Subject category:
Strategy and General Management
Published by:
International Institute for Management Development (IMD)
Version: 26.01.2022
Length: 5 pages
Data source: Published sources
Abstract
This is a case of leadership failure. It explores the experience of a leader who was very successful as a CFO and COO but who struggled and ultimately failed when he was promoted to the CEO role. As such, it is an excellent example of a common trap leaders face - 'What got you here won't get you there.' The capabilities and skills that have made you successful in the past are not guaranteed to make you successful in the future, especially at senior levels. Therefore, it's essential to rethink how one leads and build the required new capabilities whenever taking a new role.
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Abstract
This is a case of leadership failure. It explores the experience of a leader who was very successful as a CFO and COO but who struggled and ultimately failed when he was promoted to the CEO role. As such, it is an excellent example of a common trap leaders face - 'What got you here won't get you there.' The capabilities and skills that have made you successful in the past are not guaranteed to make you successful in the future, especially at senior levels. Therefore, it's essential to rethink how one leads and build the required new capabilities whenever taking a new role.