In a world defined by rapid change and relentless uncertainty, great leadership has become both essential and elusive. Today’s leaders are expected to be more than decision-makers; they must inspire, empower and cultivate a sense of purpose at every level of their organization. Yet, the path to becoming an effective leader is fraught with obstacles. It requires not only strategic vision but also a rare combination of emotional intelligence, adaptability and unshakable integrity.
At a recent Chief Executive roundtable on “building leadership,” held in partnership with PURE Insurance, CEOs from a range of industries gathered to address crucial questions such as: How can CEOs cultivate leaders at every level? What role does company culture play in winning—and keeping—top talent? How do leaders build trust when the only constant is change?
While roundtable attendees approached the topic with different worldviews, one area of agreement seemed to be the notion that, as moderator Jeffrey Sonnenfeld, president of the Yale Chief Executive Leadership Institute, put it: “Leaders are made, not born.”
Martin Leitch, CEO of PURE Insurance, agreed, noting that effective leaders often exhibit “foundational skills that they acquire through life,” such as self-awareness, empathy and intellectual curiosity. Leitch emphasized that developing these skills requires intentionality and structured support, sharing that his company offers rigorous emotional intelligence training to help leaders grow.
Leadership is “the highest of all the arts because it’s the enabling art,” added Stephen M.R. Covey, global practice leader at FranklinCovey. “It makes us better at everything else that we’re trying to do.” For Covey, the essence of this art is trust: “Without it, there’s not real leadership.”
Trust is paramount for moving an organization forward, particularly when navigating a large, diverse team. Lisa Su, CEO of AMD and Chief Executive’s 2024 CEO of the Year, shared a story from her early days leading the company in 2014, when the employee survey question “Do you believe in your leadership team?” returned a paltry 33 percent positive rating. “You look at that and you think, ‘Oh my god, this is the report card for our leadership team,’” Su recalled. “You realize, wow, I can’t just build products or talk to the Street or work on my balance sheet and P&L. I’ve got to fix this because if I don’t, we’re never going to be able to build a great company.”
Her solution involved building belief through constant communication, ensuring the right people were in the right roles and repeatedly reinforcing the vision.
Developing Leaders from Within
Effective leadership development, many attendees agreed, isn’t about finding external stars but recognizing and nurturing talent from within. Farooq Kathwari, CEO of Ethan Allen, spoke about his practice of checking in weekly with his top 50 leaders, asking them to report on five critical areas: talent, service, marketing, technology and social responsibility. “This is something that we have been doing forever…. Once you create a culture like that and create a team, then you have an opportunity,” Kathwari said.
Maggie Wilderotter, chair of DocuSign, highlighted her practice of conducting “lion hunts”—two-hour blocks of time set aside each week to roam around the office and talk with employees on the front lines. “The front line is your bottom line,” she said, adding that, as leaders, “we have to say things seven times, seven different ways for people to actually hear it, understand it, internalize it and do something about it.”
Creating a strong organizational culture has become more than a retention strategy; it’s now a vital differentiator. Rick Cassidy, senior VP at Taiwan Semiconductor Manufacturing Co. (TSMC), shared how TSMC’s pure-play business model depends entirely on the success of its customers. “We don’t have any products, period—never had, never will—and it means the only way to go to market is through our customers’ success,” he said. For Cassidy, the trust and integrity that TSMC has built with customers has been instrumental in its growth and in sustaining low employee turnover, or under 3 percent.
Building an enduring culture often requires something more subtle: humility. “Be very humble because a lot of success in life is luck,” said Charles Janac, CEO of Arteris, adding that maintaining a humble, customer-focused approach has been essential to his company’s success.
The ability to see one’s own shortcomings is critical to growth. Elizabeth Ng, CEO of Ocean Biomedical, recalled working with a manager who struggled with emotional intelligence and empathy: “He said, ‘You know, I have a real problem. I think I am autistic when it comes to people,’” she recounted. The manager sought coaching, showing the value of self-awareness and continuous improvement.
Resilience in the Face of Adversity
It is in those moments of greatest difficulty and humility that leaders find their greatest strength, agreed several CEOs. Christian Oberbeck, CEO of Saratoga Investment, learned that navigating the turbulent waters of the 2008 financial crisis while leading a distressed investment company. “We came up with a rescue financing package, and we basically took over the management of the company,” he said. For Oberbeck, survival required not only quick thinking but also an unwavering commitment to the long game. “That was my management challenge, to take that thing over on a deal basis. But we’ve now turned it into a business; we manage $2 million, and we’ve built a franchise,” he said, underscoring that a steady vision and resilient leadership can transform adversity into lasting value.
John Neuffer, CEO of the Semiconductor Industry Association, agreed, recounting his experience leading the industry’s effort to get the CHIPS Act passed. “I had a small team that was doing all the work and every day coming in, wringing their hands, telling me why this wasn’t gonna happen.” Neuffer had his own doubts but through a relentless commitment to the cause, he and his team ultimately succeeded, securing $52.7 billion in government funding for the U.S. semiconductor industry. For Neuffer, the key was being “the biggest cheerleader,” constantly rallying his team and keeping them focused on the goal.
Guiding an organization through turbulence can strengthen its true north. George Mattson took the helm at Wheels Up when it was on the verge of bankruptcy. “That’s where we started, kind of dead in the water, and we needed to restore our confidence, restore stability and so forth,” he said. For Mattson, rebuilding was about reestablishing the fundamentals and reinforcing the principle that “every business is a people business.”
In addition to cultivating resilience, some CEOs are focused on developing leadership skills in the next generation. Paul Walker, CEO of FranklinCovey, shared how his organization teaches leadership principles not just to adults but to young people around the world. “We believe everyone is born with greatness inside,” he said. “The best leaders bring that greatness out, igniting the potential in others.” FranklinCovey’s leadership principles are being applied in over 10,000 schools worldwide, where students in kindergarten on up are learning to take on leadership roles and responsibilities.
Whether it’s investing in talent, fostering trust or building resilience, the most impactful leaders prioritize the health of their culture and people over immediate results. Su summarized this approach: “The most important thing is, you want people to be at the company who really want to be at the company.”