What distinguishes exceptional CEOs from their peers? According to the extensive research conducted by McKinsey & Company Senior Partners Carolyn Dewar, Scott Keller, and Vikram Malhotra in their acclaimed book CEO Excellence, outstanding leadership is not defined by background, personality, or industry expertise alone. Rather, it is shaped by the mindset with which leaders approach the responsibilities of the chief executive role.
After conducting in-depth interviews with some of the world’s most successful CEOs, the authors identified six core responsibilities that define the role. These include setting the direction, aligning the organisation, mobilising through leaders, engaging the board, connecting with stakeholders, and managing personal effectiveness.
Setting the direction requires leaders to establish a clear vision, develop strategy, and allocate resources effectively. Aligning the organisation involves creating the right culture, organisational structure, and talent framework to support long-term objectives. The best CEOs also understand the importance of mobilising through leaders by building strong executive teams, fostering collaboration, and maintaining a disciplined operating rhythm.
Dewar, Keller, and Malhotra further emphasise that successful CEOs invest significant effort in engaging their boards, recognising that strong governance and constructive relationships contribute to better decision-making. Equally important is their ability to connect with stakeholders, including employees, customers, investors, regulators, and communities. Exceptional leaders recognise that trust and meaningful engagement are essential ingredients of sustainable success.
Another critical responsibility is managing personal effectiveness. The authors found that the best CEOs carefully manage their time, energy, perspective, and leadership behaviours. They understand that their effectiveness directly influences the performance of the entire organisation.
One of the most compelling findings of the research is that there is no fixed formula for allocating attention across these responsibilities. Circumstances may change, but exceptional CEOs consistently ensure that all six areas receive meaningful focus. They keep all the “plates spinning”, adjusting priorities without neglecting any critical aspect of leadership.
The research also challenges the notion that CEO performance follows predictable cycles. Instead, the most effective leaders create value consistently over time by redefining success, refreshing strategy, and embracing bold actions when required.
Ultimately, as Dewar, Keller, and Malhotra conclude in CEO Excellence, great leadership is less about title and authority and more about adopting the right mindset. The most successful CEOs excel because they embrace the full complexity of the role, balance competing demands, and continually adapt to create lasting value for their organisations and stakeholders.
