{"id":2746,"date":"2021-03-02T09:09:25","date_gmt":"2021-03-02T09:09:25","guid":{"rendered":"https:\/\/www.iese.edu\/standout\/?p=2746"},"modified":"2024-04-22T06:15:51","modified_gmt":"2024-04-22T06:15:51","slug":"ceo-how-to-become","status":"publish","type":"post","link":"https:\/\/www.iese.edu\/standout\/ceo-how-to-become\/","title":{"rendered":"How to become a CEO"},"content":{"rendered":"

[vc_row css=”.vc_custom_1559140963143{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”][vc_column css=”.vc_custom_1559216895048{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”][vc_column_text css_animation=”bottom-to-top”]The\u00a0<\/span><\/span>executive roles of the\u00a0<\/span><\/span>C<\/span><\/span>-suite<\/span><\/span><\/a>\u00a0are the\u00a0<\/span><\/span>target destinations<\/span><\/span>\u00a0for\u00a0<\/span><\/span>ambitious\u00a0<\/span><\/span>busine<\/span><\/span>s<\/span><\/span>s leaders,\u00a0<\/span><\/span>and the position of<\/span><\/span>\u00a0CEO<\/span><\/span>\u00a0<\/span><\/span>is the ultimate prize for many<\/span><\/span>.\u00a0<\/span><\/span>A\u00a0<\/span><\/span>recent study\u00a0<\/span><\/span>of 965 global CEOs\u00a0<\/span><\/span>by\u00a0<\/span><\/span>Heidrick<\/span><\/span><\/a> found a diverse pathway to become a CEO, but <\/span><\/span>something<\/span><\/span>\u00a0a majority of the\u00a0<\/span><\/span>CEOs had in common was\u00a0<\/span><\/span>advanced degrees.<\/span><\/span>\u00a0<\/span><\/p>\n

Paths to be<\/span><\/span>come<\/span><\/span>\u00a0CEO<\/span><\/span><\/span><\/span><\/b>\u00a0<\/span>\u00a0<\/span><\/h2>\n

Set your CEO agenda<\/span><\/span><\/span>\u00a0<\/span><\/h3>\n

To ensure you\u2019re on the right track, you need to\u00a0<\/span>plan like a CEO<\/span><\/a>\u00a0<\/span>and get into the mindset<\/span>.<\/span>\u00a0<\/span>Create your own CEO agenda and consider what you want to accomplish with it.\u00a0<\/span>What are your goals? Ho<\/span><\/b>w will you judge at year\u2019s end<\/span><\/b>\u00a0<\/span><\/b>if<\/span><\/b>\u00a0you were successful in reaching them?\u202fAre you heading in the right, proactive direction toward success?<\/span><\/b>\u00a0<\/span>\u00a0<\/span><\/p>\n

A\u00a0<\/span>G<\/span>lobal CEO\u00a0<\/span>P<\/span>rogram\u202f<\/span><\/a>can\u00a0<\/span>help<\/span>\u00a0potential<\/span>\u00a0CEOs better grasp the knowledge, mindset, skills and capabilities needed to lead compan<\/span>ies<\/span>\u00a0to the next level of excellence<\/span>.<\/span>\u00a0<\/span><\/p>\n

Plan your succession<\/span><\/span><\/span><\/b>\u00a0<\/span><\/h3>\n

Heidrick\u2019s 2020 CEO report found\u00a0<\/span>that companies are increasingly developing internal successors as CEOs<\/span>.\u00a0<\/span>In today\u2019s extraordinary business conditions,<\/span>\u00a0companies\u00a0<\/span><\/b>are bringing in\u00a0<\/span><\/b>potential CEOs at one or two positions below CEO level\u00a0<\/span><\/b>to allow executives to immerse themselves in the business<\/span>\u00a0culture<\/span>.<\/span>\u00a0<\/span><\/p>\n

This gives\u00a0<\/span>companies a range of candidates to choose from, so\u00a0<\/span>it\u2019s essential that you\u00a0<\/span>are strongly align<\/span>ed with the company\u2019s vision if your goal is to<\/span>\u00a0<\/span>emerge as\u00a0<\/span>the\u00a0<\/span>natural<\/span>\u00a0successor to the<\/span>\u00a0CEO.<\/span>\u00a0<\/span><\/p>\n

\u201cThe case for a functional CEO is strongest when his or her expertise is core to a company\u2019s critical business challenges,\u201d<\/span><\/b>\u00a0<\/span>say<\/span>\u00a0Michael Birshan, Thomas Meakin and Kurt Strovink<\/span><\/a>\u00a0from\u00a0<\/span>global strategy and corporate finance\u00a0<\/span>firm McKinsey.\u00a0<\/span>\u00a0<\/span>\u201cO<\/span>rganizations in the midst of a major digital transformation might benefit from a CTO in the top spot, and a CMO-turned-CEO could be just what the doctor ordered for a company rethinking its brand portfolio.<\/span>\u201d<\/span>\u00a0<\/span>[\/vc_column_text]

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The modern CEO<\/span><\/span><\/span><\/h3>\n

Heidrick\u2019s study\u00a0<\/span>found\u00a0<\/span>that companies hiring externally favored other<\/span>\u00a0CEO<\/span>s<\/span>, ready to tackle the challenges of global business in a pandemic. Internally,\u00a0<\/span>division leaders were favored, particularly COOs. But these more traditional paths only accounted for 20% of CEOs.\u00a0<\/span>The rest followed a diverse range of paths<\/span>,\u00a0<\/span>with companies\u00a0<\/span>valuing a wider range\u00a0<\/span>of background<\/span>s<\/span>, skills and\u00a0<\/span>levels of\u00a0<\/span>experience.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cThough CEOs expect to rely ever more on their teams, boards are also increasingly seeking diversity of experience and thought in the CEOs themselves,\u201d<\/span><\/b>\u00a0says the report.\u00a0<\/span>So how do you\u00a0<\/span>ensure your\u00a0<\/span>CEO\u00a0<\/span>strategy<\/span><\/a>\u00a0will secure you the top role<\/span>?<\/span>\u00a0<\/span><\/p>\n