While Graham has ceded the CEO chair to longtime Fleishman executive Dave Senay, his presence still looms large in the industry and, no doubt, at the firm where he has spent more than 40 years, 30 as CEO. Graham's power demonstrates itself through the remarkable consistency of his executive team, as well as the agency's long-term relationships with key clients like AT&T (formerly SBC), which hinged in no small part on his leadership. The firm also elevates staff culture to a fine art, boasting one of the most results-driven, backslapping-averse communities in PR. Its endurance is linked directly to Graham's focus for the firm. Though no longer CEO, he still holds the spirit of Fleishman in a very particular way, but is secure enough in that power to give Senay room to make it his own. Retirement? Don't hold your breath. Rather, look for the next phase of Graham's industry leadership in the form of external opportunities.