At a time when modern CEOs face a leadership environment twice as complex as it was five to seven years ago, with mounting pressures and shrinking tenures, McKinsey & Company’s CEO Practice analysed 200 global corporate chiefs for its book A CEO for All Seasons and found that the most successful CEOs share two defining traits: a strong learning mindset and relentless curiosity.
The study was led by senior partners Kurt Strovink and Carolyn Dewar. Speaking to Fortune, Dewar said that this mindset surfaced “in almost every interview.” Top CEOs, she said, are the first to admit they don’t know everything. Strovink added: “It wasn’t that they were superhuman. It’s that they learned faster, they were more adaptable and they had structures—methods to neutralise their excesses and capitalize on their edge.”
68% of CEOs said they felt 'ill-prepared'
McKinsey’s data shows that the top quintile of CEOs generates 30 times the economic profit of the next three quintiles combined, underscoring how leadership quality translates directly into value creation. Yet the role remains daunting: 68 percent of CEOs confessed they felt “ill-prepared” when they first stepped in, and 30 percent fail to make it past three years. In the S&P 500 alone, failed CEO transitions destroy an estimated $1 trillion in value annually.
Why candor counts
The study also highlights a cultural mandate for candor. JPMorgan Chase CEO Jamie Dimon’s directive—“don’t bring your best self, bring your worst self—put the problems on the table”—captures this ethos. Dewar clarified that this is not about bad behavior but about transparency: “Being willing to share when things aren’t going well … so we can fix it.”
Strovink called this discomfort essential for “edge thinking” and confidence building, noting that great leaders create space for tough conversations without making them “scarring, brutalizing experiences.”
The cost of failure
As leadership faces growing skepticism, Strovink argues its relevance has never been greater: “If you’re led by an enlightened leader who’s doing it well, it’s a glorious thing—maybe more important than ever.” For CEOs navigating today’s volatility, curiosity and humility aren’t soft skills—they’re survival strategies.
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