Recent research from Mullwood Partnership offers a relevant and insightful answer to this question. The research describes how the role of the CEO is changing and examines the wider range of skills that are now required in order to perform and lead effectively at this level.
How must existing CEOs adapt and what needs to change about how we identify and develop the next generation of CEOs?
During 2012 Andrea Adams, Triumpha’s Managing Director (for those who don’t know her) had the opportunity to collaborate with Mullwood Partnership. They invited her to write up their first piece of major research called, ‘Broadening the CEO Selection Pool: where will our future leaders come from?’
The findings summarise the views of 135 business leaders from around the world and clearly identify the experience, skills and behaviours that make a ‘stellar’ CEO as opposed to a merely ‘good’ one.
The Key Points
The research reveals that:
- The best future CEOs will not necessarily come from the traditional routes of Finance and Operations, the talent selection pool will need to be wider.
- Pre-requisites for today’s CEOs appear to be proven capability as an MD, followed by depth in their chosen sector and a multi-functional background.
- Aspiring CEOs need to:
- Express interest in becoming an MD/CEO. Don’t assume others know of your ambitions.
- Build breadth as early as you can in your career by working outside of your home function.
- People leadership is the CEO’s supreme differentiator. It singlehandedly distinguishes the best CEOs from the rest.
For more, download a copy of the full research report, Broadening the CEO Selection Pool: where will our future leaders come from.