The Quiet Reconsideration of the CEO Role

Only 39% of senior executives now aspire to become CEO, down significantly from a decade ago.

Introduction

A concerning trend is beginning to surface in some leadership pipelines. Fewer people want to be CEO.

Insights suggest it’s not because the role has lost its influence or importance, but because the nature of the job is changing in ways that are harder to sustain. Senior executives are increasingly questioning whether the personal cost, visibility, and breadth of expectation are worth it.

This is showing up in succession planning, in executive search conversations, and in the growing number of leaders stepping away from the role earlier than expected. Attention has always focused on what it takes to be a CEO and how to prepare talent for the role, but I’m beginning to worry about a bigger system issue around whether the role, as currently defined, still workable… and if it’s not, what needs to change.

What is changing?

The CEO role has expanded significantly and quickly. I’ve outlined in Chapter 1 of Accountability Under Fire: How society is demanding more from business and what great leaders are doing about it, my perspective on a role that was once centred on strategy and financial performance, now carries a much broader mandate.

Today’s CEOs are expected to operate as:

• Business leaders delivering performance
• Public figures under constant scrutiny
• Ethical stewards navigating societal expectations
• Decision-makers on complex issues like AI, climate change and social inequality.

At the same time, the environment around CEOs has changed. Visibility is constant; judgement is immediate; stakeholder expectations are rising, and often conflicting. And expectations have shifted from what CEOs deliver – that’s often taken for granted – to what and how they lead.

That means:

• Transparency is expected, not optional
• Decisions must be explained, not just made
• Leadership behaviour is scrutinised as closely as outcomes

Compounding this, CEOs are now navigating pressures that sit well beyond traditional business boundaries, for instance, employee activism, geopolitical tensions, technological disruption, and societal trust gaps. What was already a demanding role has become broader, more exposed, and more ambiguous.

Why it matters

The implications of this shift could be significant and are still unfolding.

First, the sustainability of the role is being tested.

The combination of constant scrutiny, expanding accountability, and unclear boundaries is making it harder for leaders to operate effectively over time. This is contributing to shorter tenures and more leaders stepping away entirely.

Second, the leadership pipeline is under pressure.

With fewer executives aspiring to the role, organisations face a narrowing pool of future CEOs. This is particularly pronounced among younger leaders, who place greater emphasis on balance, purpose, and well-being.

Third, decision-making itself is changing.

When every decision is visible and open to interpretation, leaders may become more cautious, or, conversely, more reactive. Neither supports long-term value creation.

Finally, the risk is systemic, not individual.

It is easy to interpret these trends as a resilience issue for individual CEOs. In reality, it reflects a mismatch between what the role demands and how organisations are structured to support it.

This is a dilemma many boards are quietly wrestling with, or if they’re not, they should be.

Because if the role becomes unsustainable, it is not just a talent issue, it becomes a performance and governance issue.

What should leaders do?

This moment calls for reflection from CEOs, boards and leadership teams around them.

A few questions to consider:

1. What would a sustainable CEO role look like in our organisation, and what needs to change to enable it?
2. What is the CEO genuinely accountable for, and where are expectations becoming diffuse or unrealistic?
3. Are we equipping leaders to navigate ethical and societal decisions, or expecting them to learn in real time under scrutiny?

These are not easy questions. But they are increasingly necessary if the role is going to be set up for success.

The CEO role remains one of the most important in business. But its design is being tested. The question now is not just who will step up, but how the role must evolve so that they can.

Two other leadership signals to watch for…

1. The nature of leadership ambition is changing
   Younger leaders are redefining success, placing greater value on well-being, flexibility, and purpose. The traditional CEO model may no longer align with these expectations.
2. Accountability is expanding faster than governance
   Boards are still evolving how they oversee areas like AI, culture, and societal impact. This gap is increasing pressure on CEOs to carry accountability that is not yet fully structured or shared. More to come in my next article…