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The Life Cycle of a CEO
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The Life Cycle of a CEO

The Myths and Truths of How Leaders Succeed

Claudius A. Hildebrand and Robert J. Stark
Public Affairs, 2024
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9

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Although successful CEOs are often lauded as the rare leaders who “have what it takes,” guidance about CEOs’ performance and their optimal tenure can be frustratingly vague. Do new bosses get a honeymoon period? Do they hit a sophomore slump? Should CEOs limit their service to 10 years? Based on their study of some 2,000 corporate bosses, consultants Claudius A. Hildebrand and Robert J. Stark present a persuasive look at the patterns of CEO performance over time. And yes, the honeymoon and the sophomore slump are both real, but CEOs need not step down after a decade. Some remain notably effective for years after that artificial sell-by date.

Summary

Becoming a successful CEO requires years, even decades, of preparation.

Too many aspiring CEOs mistakenly believe that achieving the top job is their end goal. In reality, hard as it is, landing the corner office is the easy part – succeeding once you’re there proves to be the real challenge. Successful CEOs report that they relentlessly worked to improve their skills throughout their careers. At each stop along the way, they made a point of learning as much as they could about their organization and how to lead. They deliberately stayed open to improving themselves emotionally and intellectually, realizing that self-improvement would help them survive the pressure cooker of a demanding career.

Successful leaders prepare themselves to thrive in different situations and with different leadership styles – command and control in some situations, delegation and collaboration in others.

Successful CEOs also share a willingness to bet on themselves, to take career risks, and to accept roles that might look like lateral moves – or even demotions – in pursuit of new skills. Neiman Marcus CEO Terry Lundgren left that role to become a divisional leader at Macy’s (then...

About the Authors

Claudius A. Hildebrand leads Spencer Stuart’s CEO Performance Analytics and is a member of its global Boards and CEO practice. Robert J. Stark has 25 years of experience advising CEOs and boards on CEO performance.

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