Why Many CEOs Can’t Build Legacies Anymore – HBR

Unless you have been living under a rock, everyone knows this — but if you want it in black and white and better defined, read this.

Excerpt:  The success criteria for today’s corporate leaders are shifting. Executives no longer have the time necessary to develop the leadership skills for long-term success. A highly competitive marketplace that moves at lightning speed has replaced the days of legacy building — an era associated with the soaring successes of the steel industry or the heyday of the blue-chip company. This need for speed means that companies and shareholders are less forgiving of CEOs than they once were. In the days of blue-chip glory, the forgiving nature of corporate boards meant that a CEO was capable of seeing a corporation through its various life cycles. Today, the CEO high-wire act is far more value-driven, squeezing executive priorities and leaving little room for error.

As this CEO “high-wire” gets even higher and grows even more tenuous, corporate leaders are increasingly seeking roles outside of the public eye, or taking their companies private

Read full article via Why Many CEOs Can’t Build Legacies Anymore – Thomas J. Saporito – Harvard Business Review.

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