Are new CEOs equipped for their uniquely broad and demanding role? A 2018 report by Egon Zehnder suggests many are not. Four hundred and two CEOs from 11 countries were surveyed – and 273 of them admitted that, in hindsight, they weren’t fully prepared. Together, they are running companies with a total of US$2.6 trillion in sales.
As American author Leslie Peters points out in his book Finding Time to Lead, the job is exciting and exhilarating, but also overwhelming. The view of the organisation, the span of control and authority, and the level of responsibility and pressure are all different from the CEO’s chair. And, in the face of digital transformation, automation and globalisation, today’s business leaders are also being asked to achieve more, faster, better and at a lower cost.
“Whether you’re joining a start-up, a large multinational or a not-for-profit, these demands are consistent right across the board,” says Chris Corneil, former Australasian CEO of a US$25 billion investment management business and now co-owner of ECI Partners, a boutique executive coaching firm. “Leadership in Japan will look and feel a little bit different from leadership in Australia or France but I think we’re all subject to the same relentless pressure to fix, improve and change.”
GET TO GRIPS
Many CEOs regard the job as the pinnacle of their career, and one they will take on only once. So how can they rise to the challenge and perform effectively from the start?
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