Podcast Summary

In Good Company with Nicolai Tangen

Episode: HIGHLIGHTS: Jennifer Scanlon – CEO of UL Solutions
Date: March 21, 2025
Host: Nicolai Tangen (CEO, Norges Bank Investment Management)
Guest: Jennifer Scanlon (President & CEO, UL Solutions)

Overview

In this lively highlight episode, Nicolai Tangen interviews Jennifer Scanlon, CEO of UL Solutions, the newly public global leader in safety testing and certification. The conversation covers the company's core role in making products safer, the realities and anecdotes of product testing, how company culture shifted after going public, Scanlon's leadership lessons, and her personal approach to risk and safety.

Key Discussion Points & Insights

1. What UL Solutions Does

• Scope of Testing Services

  • UL tests products for both industrial (B2B) and consumer markets (B2C), covering a broad range of goods from household appliances to industrial and medical equipment.
  • Services also include software and advisory work to help clients utilize data and navigate regulatory environments.
  • Quote:

    “We test products in the industrial space...and we test products in the consumer space...And then we have a whole set of offerings of software and advisory services that help those customers have better usage of the data.”
    — Jennifer Scanlon [00:49]

• Nature of Tests

  • Product testing involves rigorous procedures: dropping items from heights, placing anvils on helmets, setting things on fire, submerging products in water, and more.
  • The aim is to simulate real-life scenarios and ensure standards are met globally.
  • Quote:

    “We try to blow things up...we’re constantly lighting things on fire...Anything you could possibly think of to test a product? We probably do.”
    — Jennifer Scanlon [01:21]

2. Regional Regulatory Variations

• US vs. International Standards
  • The US market is the most highly regulated and often requires extensive third-party testing due to regulations, insurance requirements, and its legal system.
  • Manufacturers seek to identify common standards for global compliance, with UL guiding navigation through complex regulations.
  • Quote:

    “The US is certainly the most highly regulated market...and that third party testing can really protect manufacturers in addition to protecting consumers.”
    — Jennifer Scanlon [02:16]

3. Memorable and Unusual Test Stories

• The Soda Pop Can Incident
  • A memorable large-scale test involved stacking 2 million soda cans and observing their response to fire. Instead of collapsing as predicted, the cans exploded outward, delivering surprising results for both UL and their client.
  • Quote:

    “They thought...those aluminum cans would collapse upon themselves from the heat. Instead, they exploded outwards...Failed test. But a lot of information for that customer.”
    — Jennifer Scanlon [03:19]

4. Cost of Testing

• Range of Expenses
  • Costs vary widely: rapid, straightforward lab tests can cost little, while complex, multinational safety critical products may require hundreds of thousands of dollars to certify.
  • Quote:

    “If you're testing, let's say, a product that's going to 26 markets...and it has a big life or health safety risk...that can cross into...the hundreds of thousands of dollars range.”
    — Jennifer Scanlon [04:39]

5. Impact of Going Public on Culture

• Increased Visibility and Talent Attraction
  • Going public raised UL's profile, enhanced its ability to recruit talent, and increased capital markets' confidence.
    Quote:

    “It really has taken us above the radar and it's helped us attract talent...It positions us with the capital markets for growth in the future.”
    — Jennifer Scanlon [05:21]

6. Leadership Lessons

• The Power—and Risk—of the CEO’s Voice

  • Scanlon shares an anecdote about giving an offhand compliment, only to receive an unexpectedly literal follow-up, demonstrating the unintended weight her words now carry.
  • Her approach now is to be much more deliberate and careful with communication.
  • Quote:

    “My voice carried...and it really taught me this lesson that you can say things and people interpret it different ways, and you want to make sure...they’re interpreting it in the way that you intended.”
    — Jennifer Scanlon [06:56]

• Ensuring Truth Reaches Leadership

  • The importance increases at each level; Scanlon values people who “tell it like it is” and cautions against leaders becoming isolated in filtered information.
  • Quote:

    “Having people around you...who come in and tell you what you need to hear, whether or not you want to hear it, is extremely important...A lot of people only want to tell you what you want to hear, and that is a recipe for disaster.”
    — Jennifer Scanlon [07:52]

• Host’s “Straight Puck Award”

  • Tangen shares his company's new initiative—an ice hockey puck trophy given for honest feedback—to foster a culture where truth is valued.
  • Quote:

    “It’s basically for people who are telling me things...you know, the real truth...so you can physically give them a puck...‘here is a straight puck.’”
    — Nicolai Tangen [08:26]

7. Personal Approach to Safety

• Risk Management Philosophy
  • Scanlon’s reputation for “safety first” originated from her experience as a lifeguard and roles in hazardous industrial environments.
  • Her focus: managing risk intelligently—eliminating unnecessary danger, but not paranoia.
  • Quote:

    “When I was named to this job, [my daughters] said the headline should be: ‘Mom, Safety Freak Runs Safety Company.’...Risk management is important...how do you eliminate unnecessary risks?...better to wear a bike helmet than not.”
    — Jennifer Scanlon [09:07]

Notable Quotes & Timestamps

• On the breadth of testing:

  “Anything you could possibly think of to test a product? We probably do.”
  — Jennifer Scanlon [01:21]

• On regulatory differences:

  “The US is certainly the most highly regulated market...that third-party testing can really protect manufacturers in addition to protecting consumers.”
  — Jennifer Scanlon [02:16]

• On internal communication as a CEO:

  “My voice carried...you want to make sure that they're...interpreting it in the way that you intended...be very careful about your voice.”
  — Jennifer Scanlon [06:56]

• On honest feedback:

  “There’s a lot of people who only want to tell you what you want to hear, and that is a recipe for disaster.”
  — Jennifer Scanlon [07:52]

• On safety mindset and risk:

  “I've always been attuned to focusing on how do you eliminate unnecessary risks...It's better to wear a bike helmet than not.”
  — Jennifer Scanlon [09:07]

Timestamps for Important Segments

| Time | Segment | |---------|---------------------------------------------------------------------------| | 00:49 | What UL tests and how | | 01:21 | Examples of extreme product testing methods | | 02:16 | Global regulatory landscape and compliance challenges | | 03:19 | Weirdest test: Soda can fire experiment | | 04:39 | Typical costs for different types of testing | | 05:21 | How going public changed UL's culture | | 06:56 | Leadership lesson: Effect of a CEO's voice | | 07:52 | The importance of getting uncensored feedback as a leader | | 08:26 | Tangen explains the company's “Straight Puck Award” for honest feedback | | 09:07 | Scanlon’s personal approach to risk and safety |

Tone and Takeaways

The episode balances light humor with sharp insights, reflecting both Scanlon’s approachability and seriousness regarding safety and leadership. Listeners are offered a behind-the-scenes look at product testing’s real-world stakes, the challenges of global compliance, and the evolving demands of effective leadership in a public company.