Preparing the Next Generation of CEOs: What Boards Must Do Now

The role of the CEO has never been more demanding—or more complex. Once seen primarily as the strategic head of an organization, today’s chief executive is expected to be the face, the voice, and the conscience of the enterprise. The CEO must inspire employees, reassure investors, engage policymakers, and manage public perception in an era of unprecedented scrutiny.

According to Prof. Dr. Amarendra Bhushan Dhiraj, Executive Chair, CEO, and Editorial Director of CEOWORLD Magazine, the challenge is twofold: responsibilities keep expanding, but leadership training hasn’t kept pace.

“We’re putting more and more responsibilities in the CEO bucket, but we’re not really taking anything out,” Dr. Amarendra explains. “Our collective definition of ‘success’ has also shifted, so what’s required to be a CEO is changing too.”

So what skills must aspiring CEOs develop—and how can boards, investors, and organizations prepare them for the top job?

Agility: Leading in Constant Motion

In today’s volatile environment, agility is the single most important competency for CEOs. Leaders must pivot constantly across stakeholders, markets, and agendas.

“You’re constantly doing mental pivots in terms of who you’re working with and what the agenda is—you’ve got to be across everything and always making adjustments,” Dr. Amarendra says.

Agility requires breadth of knowledge and the humility to rely on experts when needed. Whereas CEOs once “called all the shots,” the modern model emphasizes collaborative trust.

“It’s critical for CEOs to know they have a team they can trust and work with,” he adds. “It’s tough, but CEOs need to let go of the idea that they are the functional expert in everything.”

For aspiring CEOs, building agility means exposure: rotating across functions, engaging with external stakeholders, and developing the ability to balance detail with delegation.

Communication and Impression Management

Public mistrust of corporations remains high, with Edelman’s Trust Barometer showing declining confidence in business leaders across many markets. In this climate, communication skills have become as important as financial acumen.

CEOs must master impression management—balancing transparency with reassurance, and data-driven decisions with narrative storytelling.

“CEOs need strong communication skills, as well as good impression management, in a way that we haven’t really seen before,” says leadership expert North-Samardzic. “With more tech available, we’re using data for decision-making—but people don’t always want to believe the data. So, you’re having to impression-manage the comms in a way that’s paradoxical.”

Aspiring CEOs can hone these skills by taking ownership of communication early—whether presenting to investors, engaging employees, or handling media interactions. Every opportunity to craft and deliver a message is a rehearsal for the corner office.

A Strong Sense of Purpose

Purpose is more than a branding exercise—it is an anchor in turbulent times. With heightened scrutiny from regulators, investors, and the public, CEOs must ground their decisions in clearly articulated values.

“The court of public opinion is tricky to navigate,” notes Peters, a leadership advisor. “This is why it’s so critical for leaders and CEOs to stay true to their strategy, their direction, and their north star.”

North-Samardzic adds: “When the waters are choppy, you’re hearing from so many different people and it’s difficult to separate fact from opinion. It’s all about having a core sense of self, knowing what’s important to you as a person and as a leader.”

For aspiring CEOs, cultivating purpose requires deliberate reflection—through coaching, mentorship, and structured leadership development programs. Without it, even the most technically capable leaders risk losing credibility when pressure mounts.

Succession Planning: A Board-Level Imperative

Even the most talented leaders cannot succeed in isolation. CEO success is ultimately a team effort. Organizations that manage transitions poorly risk turbulence, declining performance, and investor skepticism.

“Having a solid succession plan in place leads to lower turbulence, higher financial performance, and greater efficiency,” says North-Samardzic. “Boards need to think about doing these shoulder taps much earlier in people’s careers, so they can get them ready for the role.”

Peters agrees, advocating for a relay succession model: “For the new CEO, they might be coming into board meetings for 12 months beforehand. This helps set them up for a smooth and successful transition into the role.”

Structured programs, such as the Aspiring CEO program, provide invaluable preparation. The two-day course blends strategic frameworks, simulations, and executive coaching to give future leaders actionable steps toward success.

Building the Next Generation of CEOs

The leadership landscape is shifting rapidly, and the CEO role continues to expand in scope and complexity. Aspiring leaders must therefore cultivate agility, communication, impression management, and a deep sense of purpose—while boards and investors must commit to long-term succession strategies.

For CEOs-in-waiting, the path forward is demanding but clear. Exposure, preparation, and reflection will be as important as traditional operational achievements. For organizations, the imperative is equally clear: invest in leadership readiness today, or risk turbulence tomorrow.

As Dr. Amarendra concludes:

“The demands on CEOs will only increase. But with the right skills and preparation, tomorrow’s leaders can step confidently into the role—not just as heads of organizations, but as the face, heart, and conscience of modern enterprise.”