There is no shortcut to becoming CEO unless you set up your own company. So how can we achieve our goal? According to professional coaches and executive headhunters, it depends on whether you have profound knowledge and extensive social relations, and what kind of leadership level you have reached. Time and possibly hundreds of millions of dollars in salary and benefits will let you know whether you have passed the test.
Get ready to invest your time. According to Forbes' database of the top 500 companies in the United States, the average tenure of an executive as CEO in a company (excluding his time as a boss) is 19 years. Most of these executives joined their own companies in their early 30s. Therefore, the average age of CEO is 55 years old.
This is why most CEOs are insiders of the company. According to a company survey, only 20% companies employ outsiders as CEOs. These people are usually qualified to be CEO because of their past experience and word of mouth, even managers with CEO experience. This group is small, but outstanding.
After Welch appointed Immelt as his successor at GE, Nadley and McNarney left the company and became part of the top leadership team, which Brian Uzzi, a professor at Kellogg School of Management, called a "shortlist".
With 30 years of working experience in General Electric, Nadley became the CEO of The Home Depot. McNarney, who has worked in General Electric for 20 years, was appointed as the CEO of 3M Company.
Similarly, alan mulally, CEO of Ford Motor Company, worked for Boeing Company for 32 years before joining Ford, while Philip Shonoff, former president of Best Buy Company, moved to Circuit Company as CEO.
What matters is how you choose to achieve your goal. Some executives frequently change jobs when they are young before taking advantage of the company's succession plan, while others choose to make career plans in order to accumulate work experience in many companies in all walks of life.
European business tycoon Robert Polet started his career at Unilever. He took a leading position in his thirties and was eventually promoted to the position of president of the ice cream and frozen food department of this $58 billion consumer goods company. He is currently the CEO of Gucci, a fashion brand owned by Italian luxury goods group PPR.
"Working in many companies is very helpful," said Chuck eldridge, managing director of consulting firm Brilliant International.
Eldridge said that he had a client who was determined to be the top management. Judging from this client's resume, it seems that he will make a strategic leap every five years, each time in order to seek better opportunities and take a step further from his own goals. A raise is more important.
However, if he wants to be a CEO candidate, he'd better settle down as soon as possible.