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Some CEOs remain in the role too long, hurting investors, employees, and their own legacy. The author sees a frequent reason for that: CEOs don’t know how to identify the optimal time to retire, and they procrastinate because they can’t imagine what they will do after they leave the job. In this article he presents questions that chief executives can ask themselves to determine the right time for an exit; a step-by-step process for stepping down; and an overview of the options a former CEO may find fulfilling. [ABSTRACT FROM AUTHOR]

The author recounts various aspects of his long career as CEO/Chief Executive Officer of the medical device company Medtronic, and describes his True North concept. He also describes the leadership transition in today's organizations to new generations. He believes that the old style of leadership is "rapidly being replaced by leaders with high levels of emotional intelligence who are committed to empowering people to reach their full potential." For additional context, he provides quotes from Ralph Lauren CEO Patrice Louvet, OneTrust founder Kabir Barday, former Kroger CEO Dave Dillon, and Levi Strauss CEO Chip Bergh. The author describes former Merck CEO Ken Frazier as an exemplar of "taking great personal risks that require moral courage." A chart compares characteristics of 20th and 21st century leaders. For instance, in Philosophy, the 20th century way was command‐and‐control, whereas now it is authentic leadership. Within Motivation; before it was self‐interest; now it is the institutions' best interest. For personal measurement, 20th century was external validation; 21st century is intrinsic contribution. The author concludes: "In today's complex world, we need emerging leaders to step up to the challenges to lead with their hearts, not just their heads, to make this world better for everyone." [ABSTRACT FROM AUTHOR]

When Bill George joined Medtronic in 1989 as president and COO (in short order becoming CEO and then chairman), the company had $755 million in annual sales and 4,000 employees. By the time he left, in 2001, Medtronic was a $5.5 billion giant with 26,000 on its payroll. Medtronic also became a model for its peers. Its shareholders have done quite well. George, 61, whose career included top-management positions at Honeywell and Litton Industries, pours hundreds of hours a year into work as a corporate director for Goldman Sachs, Target, Novartis, the Harvard Business School, and other institutions. He also mentors and teaches young MBAs. George is setting an example of the commitment it takes--or should take--to run a big company. He has distilled his wisdom in his book 'Authentic Leadership.' In this article, George presents his ideas on corporate leadership.

The article explores the reasons why corporate leadership has diminished in the U.S. since 2000. Reasons include choosing leaders outside of a company instead of developing leaders, the increasing number of self-interested chief executive officers, and the inherent problems with singular leadership within a company. Information is provided on True North Leadership Groups which are businesspeople that help leaders improve their skills.

There is nothing quite like a crisis to test leadership. Like being in a war, a crisis tests limits because the outcome is rarely predictable. Leaders not only have to use all their wisdom to guide the organization through the storm, but also dig deep inside themselves to find the courage to keep going forward. Based on his research on both failed and successful leaders, George offers seven key strategies for weathering crises and emerging stronger than before. [ABSTRACT FROM AUTHOR]

The author shares his defining moment during a crisis. He says that by striving so hard to become chief executive officer (CEO) of Honeywell, he became caught up in the rampant politics and appearances. He admits that it is the person closest to him who looks through his blind spots and sees him as he really was. He asserts that the crisis one faces is one's defining moment, which also defines a person to others.

The author reflects on the outrage faced by American International Group Inc. (AIG)'s chief executive officer (CEO) Edward M. Liddy due to AIG's controversial bonus payments. He considers Liddy as an honest and responsible person who has got trapped in the controversy that started even before he was selected as AIG's CEO. He wants the politicians and former CEOs Hank Greenberg and Martin Sullivan, involved in this fiasco to acknowledge their responsibilities for the issues that led to AIG's downfall.

The article focuses on the implications of the increased CEO compensation in the U.S. It notes that determining the compensation of CEOs is a fundamental responsibility of the board of directors under U.S. corporate law. It cites the risks posed by guaranteeing CEO compensation to employees. It emphasizes that executive compensation should be tied directly to the company's long-term objectives.