CEO Insights

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(Extract from 2010 MBA Research)

When it comes to New Zealand leaders, CEOs are particularly challenged by the geographical location as well as the time it takes get to market. Being in a smaller economy also means that CEOs are at times limited by opportunities and breadth of executive teams.

In 2010, while researching CEO success and specifically researching New Zealand CEOs, Angela Neilson, for her recent MBA research project, explores how NZ CEOs can improve their current performance and their organisations by reinventing themselves.

In a larger market setting, there are more senior leadership opportunities and CEOs are able to move between roles (and potentially across sectors) more easily. However, given the smaller market that New Zealand presents, it constrains the ability for executives to offer a variety of executive perspectives. It is for this reason that New Zealand CEOs in particular must be able to “reinvent’ themselves within their current role in order to excel their business as well as their professional growth.

While the base assumption is that an established CEO needs to reinvent themselves in order to secure a new appointment, Neilson’s research and supporting documentation found that CEOs need to reinvent themselves in order to be successful in their current appointments and it is therefore this success that positions themselves for future opportunities.

Critical Success Factors for Reinvention:

• Conscious activity for CEOs who want to reinvent themselves
• 64% of CEOs have done some form of executive education
• 94% network regularly
• 75% read widely
• 25% have a regular coach / mentor

Articles of Interest

How to stay stuck in the wrong career
Herminia Ibarra, INSEAD, HBR
Classic article on career and change.

The Existential Necessity of Midlife Change
Carlo Strenger, Arie Ruttenberg, HBR
At middle-age we are confronted by our limitations, restricted possibilities and mortality. Self-reflection (internal) or events related to work (external) can trigger this confrontation. Two prevailing midlife myths are; firstly that sixty-five is the age for retirement and decline and secondly that with enough willpower, people can be anything they want. Each myth is false.

Gross Domestic Happiness
Knowledge@wharton
Happiness measured in many ways. Life satisfaction versus day-to-day satisfaction are sub-factions of happiness. Measures such as infant mortality rate more correlated to happiness than money.

A to do list for the CEO of your Career
Cathy Benko, HBR Blog
“60% of the new jobs created this century will require skills now possessed by a mere 20% of workers today.” In response to this, maximizing option value and marking yourself to market are essential. The Corporate Ladder is outdated, and the Corporate Lattice is today a more accurate model of career possibilities.

Manage Your Energy, Not Your Time
Tony Schwartz, Catherine McCarthy, HBR
Energy management is as necessary for productivity as Time Management. Building and sustaining capacity through use of rituals aids better productivity. Four categories for well rounded Energy Management are: The Body (Physical Energy), The Emotions (Quality of Energy), The Mind (Focus of Energy) and The Human Spirit (Energy of Meaning and Purpose). Multitasking depletes efficiency.

CEO Stories

Wal King on CEO Longevity
CEO Forum
Interview with Wal King. CEO of Leighton’s Holding 1987 – today (24 years). Key quote relating to his long tenure, “A CEO needs time to put their own stamp on an organization.” Prefers the term “momentum” over “reinvention.”

Canada’s Most Interesting CEO
Youtube
Robert Dutton, CEO of Rona inc. Since 1992.
After going on sabbatical he ‘reinvents’ his perspective of business.

Ray Avery – World Class New Zealand – Mondiale
Youtube
“Making healthcare accessible makes life worthwhile for me” Motivation to be of benefit to others.
Touches on unhappiness and bridging the gap of inequality. Length: 4 minutes.
Avery also had a difficult upbringing.

Article on Avery
Idealog

Todd leader departing after 23 years
stuff.co.nz
History of Todd Energy ‘taking on the big boys’ with Tweedie in charge. Family interest as motivation for long tenure.

Statistics and Analysis

CEO Succession 2000 – 2009
Booz & Co
General worldwide trends and statistics.