The CEO Moment: Leadership for a new era

Executive Summary

In “The CEO moment: Leadership for a new era,” McKinsey argues that the COVID-19 pandemic created a rare opportunity for CEOs to rethink the role itself. The authors observe that the crisis forced CEOs to move faster, communicate more humanely, make decisions with broader stakeholder consequences, and rely more heavily on peer networks. These shifts, born of necessity, could become a more effective leadership model if CEOs make them permanent.

The article identifies four major leadership shifts: aspiring “10x” higher, elevating the CEO’s “to be” list alongside the “to do” list, fully embracing stakeholder capitalism, and harnessing the power of CEO peer networks. McKinsey’s central question is whether CEOs will treat the crisis as a temporary disruption or as a once-in-a-generation opportunity to recalibrate how they lead.

For business leaders, the message is clear: the CEO role is not fixed. It can be consciously redesigned to produce higher performance, stronger trust, more humane leadership and greater societal impact.

Major Takeaways

CEOs should aspire bigger and move faster.
McKinsey highlights how companies accomplished in days or weeks what had previously seemed to require years, from expanding telehealth to curbside pickup and rapid workforce redeployment. The authors argue that the crisis exposed that many limits are rooted less in technical constraints than in organizational mindsets, bureaucracy, and assumptions about what is possible.

Operating models need to be zero-based.
The article urges CEOs to ask which pandemic-era practices should be preserved: faster decision-making, sharper resource allocation, reduced travel, more virtual work, and more intentional use of executive time. McKinsey frames this as a chance to reset how work gets done rather than simply return to legacy routines.

Leadership presence matters as much as task execution.
The authors argue that CEOs should manage their “to be” list as rigorously as their “to do” list. During the pandemic, many leaders became more visible, empathetic, transparent, and human. McKinsey suggests these qualities should be built into leadership expectations, development, rewards, and promotion practices.

Stakeholder capitalism became operational rather than theoretical.
The pandemic forced CEOs to make decisions affecting employees, customers, suppliers, communities, governments, and shareholders simultaneously. McKinsey notes that stakeholder capitalism has moved from conference-room language to real-time decision-making under pressure.

CEO peer networks became a strategic asset.
CEOs increasingly turned to other CEOs to solve unfamiliar problems, compare responses, and coordinate action. McKinsey argues that these networks can help leaders address not only crises but also longer-term challenges such as innovation, healthcare, inequality, climate change, and business resilience.

Talking Points for Executives

The pandemic revealed that many organizations can move much faster than leaders previously believed.

CEO effectiveness now depends not only on what leaders decide, but also on how they show up emotionally and visibly.

Stakeholder capitalism requires trade-offs, measurement, and resource allocation; it is not just a values statement.

The CEO’s calendar should reflect the highest-value work only the CEO can do.

Peer learning among CEOs can accelerate problem-solving, reduce isolation, and open new models of cross-industry collaboration.

Reflection Questions

Where should our organization be aspiring 10x higher or moving 10x faster?

Which crisis-era practices should we preserve rather than abandon?

What is on my “to be” list as a leader, and how do I hold myself accountable for it?

How do our leadership criteria evaluate character, empathy, adaptability, and energy—not just skills and experience?

Which stakeholders need more explicit attention in our strategy, operating model, and metrics?

What peer networks could help me lead more effectively through uncertainty?

Potential Action Items

Run a “COVID-era lessons retained” exercise to identify the decision processes, digital workflows, customer practices, and operating habits worth institutionalizing.

Redesign executive meetings around speed, clarity, and decision ownership rather than information sharing.

Add “to be” leadership attributes to executive coaching, succession planning, and performance reviews.

Create a stakeholder scorecard that tracks outcomes for employees, customers, suppliers, the community, and shareholders.

Set a CEO time-allocation audit to ensure the CEO is focused on work only the CEO can do.

Build or join a trusted peer network of CEOs across adjacent industries to exchange practical lessons on shared challenges.

Recommended Similar Articles

“The mindsets and practices of excellent CEOs” — McKinsey
A strong companion piece on what excellent CEOs actually do across direction-setting, organization alignment, stakeholder engagement and personal effectiveness.

“What makes a CEO ‘exceptional’?” — McKinsey Quarterly
Recommended for leaders who want data-backed insights on the bold moves and performance patterns that distinguish exceptional CEOs.

“How new CEOs can manage for the future” — McKinsey Podcast
Useful for new or incoming CEOs who need to balance immediate performance pressure with long-term transformation.

“The CEO Excellence page” — McKinsey
A broader resource hub for CEOs and senior executives looking for McKinsey research on CEO effectiveness, leadership practices and enterprise transformation.