The 3 Acts of a CEO Tenure

As an Incoming CEO:

• Plan for a long-term tenure: Aim for a decade or more with a strategic mindset for sustained success and a lasting legacy.

Act One: Taking Charge

• Establish legitimacy: Set a clear agenda.
• Assemble leadership team: Build a capable senior team.
• Communicate vision: Share your vision with stakeholders.
• Define leadership style: Establish how you will lead.
• Proactive decisions: Implement changes quickly and address immediate needs.

Act Two: Recalibrating and Reenergizing

• Review progress: Take stock of achievements and correct missteps.
• Institutionalize changes: Solidify successful changes.
• Inject new energy: Launch additional initiatives.
• Develop executives: Focus on growing a broader group of supportive executives.

Act Three: Passing the Baton

• Plan departure: Prepare for a smooth transition well in advance.
• Ensure orderly succession: Work with the board for succession planning.
• Maintain momentum: Stay open to significant new projects.

This tip is adapted from “The CEO’s Journey Is a 3-Act Play,” by Nitin Nohria