“The CEO’s Journey Is a 3-Act Play,” by Nitin Nohria

 Fri 26 July 2024

The 3 Acts of a CEO Tenure

As an incoming CEO, you need to plan for a tenure of a decade or more. By approaching your time in the role with a long-term, strategic mindset, you can increase your chances of sustained success and leave a lasting legacy. Here’s a three-act structure to keep in mind as you begin your leadership journey.

Act One:

 Taking Charge. Start by establishing your legitimacy and setting a clear agenda. Then assemble a capable senior leadership team, communicate your vision to all your stakeholders, and define your leadership style. And don’t be afraid to make proactive decisions, implement changes quickly, and address immediate needs at the outset.

Act Two:

 Recalibrating and Reenergizing. Two to three years into your tenure, take stock of your progress. Correct any missteps, institutionalize the changes that were successful, and inject new energy through additional initiatives. And crucially, focus on developing a broader group of executives who can support your efforts.

Act Three:

 Passing the Baton. Prepare for a smooth transition by planning your departure well in advance. Work with the board to ensure an orderly succession, and maintain organizational momentum by staying open to significant new projects.

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