THE PATH TO THE TOPCEO Insights

QUICK STATS:

Average age whenappointed CEO

45Earned an MBA 41%

Extended family included a CEO

28%Earned a JD3%

Average college GPA3.51

CEOs come from diverse backgrounds and possess varying character traits, but is it realistic to think that anyone can become a CEO? Or, is it more likely that particular social or educational influences render certain individuals better suited to assume this role? In an effort to understand where CEOs come from and how they reach the top of their organizations, we surveyed 161 current and former chief executives and found that there exist clear family, educational and personality-based factors that substantially influence one’s likelihood of becoming a CEO.

Background & Education

Skyler Hicks: shicks@glginstitute.com | Vasudev Bailey: vbailey@glginstitute.com p.1

» Whereas 41% of male CEOs are the oldest sibling, only 17% of top female executives could say the same.

» Family connections may matter more than you think – almost a third of our respondents listed a CEO in their family.

» You don’t have to be at the top of your college class to excel in business. 80% of CEOs earned GPAs lower than 3.8 on a 4.0 scale.

» While 95% of CEOs considered graduate school a worthwhile investment, surprisingly few of these CEOs earned JDs as compared to MBAs.

WHAT TYPE OF SCHOOL DID YOU ATTEND?

PublicUniversity

PrivateUniversity

36.4%

59.4%63.6%

40.6%

GROWING UP, WHICH CHILD WERE YOU:

Only Child

Youngest

Middle

Oldest

8.3%

0%

25.9%

41.7%

24.5%

41.7%

16.6%

41.3%

27%

21%

10%

9%

6%

6%

5%

5%

3%

2%

2%

2%

1%

1%

0%

0%

ENTP

ENTJ

INTJ

INTP

ENFP

ESTJ

ESTP

ISTP

INFP

ENFJ

ESFP

ISTJ

ISFP

ISFJ

ESFJ

INFJ

The Personality of a CEO

MYERS-BRIGGS PERSONALITY TYPES:

DAVE PEACOCK Former President & CEO, Anheuser-BuschInventive, Enterprising, Bored by Routine, Enjoy New Challenges

VICKY GREGG Former CEO, BlueCross BlueShield, TennesseeLogical, Independent, Strategic, Inclined to Plan and Set Goals

MARVIN ROMANOW Former CEO, NexenTheoretical, Analytical, Imaginative, Excel at Solving Complex Problems

FRED KLEISNER Former CEO, Morgans Hotel Group Co.

Spontaneous, Creative, Enthusiastic, Seek and Provide Support to Others

DAVID BRENNAN Former CEO, AstraZeneca

Energetic, Pragmatic, Adaptive, Prefer Action over Inaction, Enjoy Problem Solving

ULI BECKER Former CEO, ReebokIdealistic, Creative, Friendly, Loyal

Skyler Hicks: shicks@glginstitute.com | Vasudev Bailey: vbailey@glginstitute.com p.2

Results Oriented, Practical, Decisive, Will Take the Lead in Organizing Projects

My path to the top took many twists and turns, but I tried to never forget where I came from. I used a very authentic type of management style and stayed focused on the business while using my heart to motivate people.

-Jan Fields, Former CEO, McDonald’s USA (ESTJ)

Be open to every possibility and opportunity, [and] maximize your contribution in every assignment and position you’re given.

-Jeff Kindler, Former CEO, Pfizer (ENTJ)

NUMBER OF INDUSTRIES WORKED IN BEFORE BECOMING A CEO:

NUMBER OF COMPANIES WORKED FOR BEFORE BECOMING A CEO:

Career Overview

FIRST JOB OUT OF COLLEGE:

» Not all CEOs start their careers on the fast track. In fact, many CEOs begin their careers in non-business roles.

» Although women are almost twice as likely as men to work for 4+ companies before becoming CEOs, both male and female executives became CEOs at about the same age (45).

» Only 39% of male CEOs worked in 3+ industries, compared to 67% of female CEOs.

ParalegalW

aitr

ess

Tour

ist C

onsu

ltant

Scientist

Research Chemist

Railroad ManagerRailroad Fireman

Psyc

hiat

ric A

ssis

tant

Product Development

Pharmacist

Naval Officer

Gra

phic

Art

ist

Fast

Foo

d M

anag

er

Inve

stm

ent B

anke

rLeas

e Ac

coun

t Man

ager

Life Insurance Consultant

Even

t Coo

rdin

ator

Employment Manager

Elec

tric

al E

ngin

eer

Deli Meat Cutter

Com

pute

r Sal

esm

an

Computer Programmer

Clai

ms

Man

ager

Buying Manager

Auditor Attorney

Assistant to the President

Retail Store Clerk

Retail Assistant Manager

Cons

ulta

nt

Car Salesman

Bran

d M

anag

er

Bank Teller

Army Officer

Airline Pilot

Chemist

Teacher

Sales Representative

Financial Analyst

Engineer

Accountant

One

Two

Three

Four+

28%8%

25%

58%

9%

18%

21%

33%

Male CEOs whoworked for 4+ companies

92%

54%

Female CEOs whoworked for 4+ companies

Skyler Hicks: shicks@glginstitute.com | Vasudev Bailey: vbailey@glginstitute.com p.3

Work harder than everyone else, take jobs and roles nobody else wants, and [be willing] to take risks.

-Craig Herkert, Former CEO, SUPERVALU; Former CEO, Walmart Americas (ENTP)

AVERAGE HOURS WORKED PER WEEKBEFORE BECOMING CEO:

Moving On Up

In the Office

In the Car

In the Shower

On Vacation

At the Gym

23.0%

17.7%

13.3%

19.5%

26.5%

<40 40-59 60-79 80-99 100+

1.3% 0.6%

47.1%

38.9%

12.1%

WHERE DO YOU COME UP WITH YOUR BEST IDEAS?

QUICK STATS:

Say a mentor wasinstrumental to their success

Years of managerial experienceprior to becoming a CEO

16Average hours/week devoted to

continuous improvement &learning before becoming a CEO

7

» If you can’t secure one-on-one meetings, attending professional conferences ranked as the next best way to network effectively. Don’t expect to meet future CEOs at the next cocktail party you’re attending.

» Becoming a CEO doesn’t require 100-hour weeks at the office. Almost half of our respondents worked between 40-59 hours per week. Only 13% worked more than 80 hours per week.

» Almost three quarters of CEOs’ best ideas come to them outside the office — it begs the question of whether office spaces inhibit creative thinking.

Cocktail partygathering

Symposium orconference

Phone call oremail exchange

MOST EFFECTIVE NETWORKING:

58%

73%

One-on-onemeeting

82%

39%

63%

Skyler Hicks: shicks@glginstitute.com | Vasudev Bailey: vbailey@glginstitute.com p.4

81%

The Makeup of a Future CEO

PREFERENCES:

Employing aHands-Off Approach

MicromanagingOthers

CreativeThinking

LogicalReasoning

FollowingYour Heart

FollowingYour Head

Spending Time onLong Term Goals

Spending Time onShort Term Goals

TOP 5 BOOKS THAT TAUGHT THE MOST ABOUT LEADERSHIP:

Lean In

Good to Greatby Jim Collins

by Stephen R. Covey

by Sheryl Sandberg

by Jim Collins & Jerry I. Porras

The 7 Habits of Highly Effective People

Built to Last

3

1

2

4

The Bible5

QUICK STATS:

Work outside their currentindustry contributed to their present success

Relocated at least four timesfor work 52%Hired externally

as CEO(vs. in-house) 54%

AREAS OF FUNCTIONAL EXPERIENCE:

Strategy: 49%

Business Development: 55%

Marketing: 54%

Operations: 48%

3

1

2

4

Sales: 45% 5

Finance: 22%

R&D : 25%

Medical: 10%

7

6

8

Legal: 4% 9

10%

27%

73%

53%

73%

27%

47%

90%

Skyler Hicks: shicks@glginstitute.com | Vasudev Bailey: vbailey@glginstitute.com

» As a majority of CEOs are hired externally as opposed to in-house, the opportunity to step up your career to the next level is just as likely outside your current company.

» While female CEOs (75%) are disproportionately more likely to identify with creative thinking over logical reasoning as compared to the average (47%), they are just as likely as men to favor the logical reasoning that comes with following one’s head over one’s heart.

» On average, CEOs develop functional experience in at least 3 different areas on their path to the top. Exposure to a variety of business areas, especially marketing and business development roles, serves as a catalyst for professional advancement. Very few CEOs have previous experience in R&D, Finance, or Law.

p.5