New company leaders can learn important lessons on how to deliver as a CEO from the experiences of others who were once in their shoes. The truth is, not every well-known CEO earned their reputation in positive ways. Many of them found success in spite of bad behavior or major faux pas, and stories of their missteps and poor decision making that land in the press give up-and-coming leaders valuable opportunities to learn from their mistakes.
To avoid some serious missteps, the negative qualities and bad habits of other chief executives can serve as relevant, illustrative examples for today’s leaders. Below, members of Forbes Coaches Council discuss some of the lessons they’ve gleaned from the experiences of infamous CEOs in the news.
Forbes Coaches Council members share lessons today's leaders can learn from infamous CEOs.
Photos courtesy of the individual members.1. Don’t Underestimate The Power Of Gen-Z
Don’t underestimate Gen-Z! That’s the lesson Disney CEO Bob Chapek learned when he initially declined to take a stand on Florida’s so-called “Don’t Say Gay” bill. A well-coordinated mutiny from such junior employees would have been unthinkable a decade ago. Gen-Z cares deeply about social issues and expects corporations to stand up for them. They’re unafraid to use their voices (and social media savvy) accordingly. - Randi Braun, Something Major
2. Regularly Study Other Leaders
Bring your leaders together to study other leaders once a quarter. Evaluate what they did right, what they did wrong, and how you might do things the same or different. Read their biographies or share their stories. Look at Steve Jobs, for example. There’s enough there to both study the brilliance and see the downside of an incredible CEO. It’s worth an hour or so every month or quarter to share like this. - John M. O’Connor, Career Pro Inc.
3. Be Transparent And Own Your Mistakes
Be transparent and own your mistakes, which are part of both your legacy and being human. Nowadays, no one is immune to social media—not even leaders—and the higher you go, the bigger the spotlight. The quicker you can own your shortfalls and authentically look to make amends, the quicker you will drive your own fate. I always tell leaders “what you permit, you promote,” and this rings true here. - Joshua Miller, Joshua Miller Executive Coaching
4. Have The Courage To Make Unpopular Decisions
Audacious courage to deal with unpopular decisions is a common trait of infamous leaders. Most of the time, in order to create consent in the environment, CEOs hesitate to call the difficult shots that are important for the organization. Today’s leaders can learn how to be extremely focused and passionate about what they believe in and how to stand against the wave. - Jaya Bhateja, Abhyudaya Consulting Services
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5. Keep Your People Happy
The ability to keep your people happy is an important trait of a company leader. If leaders are sure that they are right and go in the right direction, then their reputation in the media does not really matter, and you can learn from their devotion to their idea. Work on your culture and let your employees talk about you. - Mikhail Saidov, Coaching Solutions
6. Act In The Interest Of Your People
The professional services world is rife with examples of leaders who’ve gotten it wrong. Usually, it’s because they’ve demonstrated selfish motives, acting in their own best interests and not the interests of the people in their organizations. These negative examples serve as teaching moments for anyone who’s willing to learn from them. Leveraged effectively, they’re really valuable. - Randy Shattuck, The Shattuck Group
7. Always Take Personal Responsibility
Always take personal responsibility and own up to your mistakes. Immediately after you realize you made a mistake, you must avoid the urge to self-justify. The more one tries to cover, conceal or justify, the more warped the truth will become. When the truth is blurry, your ability to make good decisions and get out of a nasty situation with dignity significantly diminishes. - Mari Carmen Pizarro, Whole Leadership Systems, Inc
8. Create A Position To Motivate Everyone
Not every visionary is CEO material—in fact, many are not. Create a position for a vision-holder and in-house genius, and let them be the spokesperson for the company whenever passion is what you need most. Give them a chance to do what they do best—motivate everyone to scale new heights. At the same time, hire a CEO who can take care of the practical and strategic sides of things. - Rajeev Shroff, Cupela Consulting
9. Strive To Be Respected More Than Liked
It is essential to understand that as a leader, it is more important to be respected than to be liked or popular. When we see narcissistic behavior in leaders with huge egos, it is important to realize that the alternative is not to shy away from holding people accountable for their performance—and to the organization’s purpose—but rather to work to earn the respect of those we lead. - Philip Liebman, ALPS Leadership
10. Keep In Touch With Your People And Operations
Showing off can make you seem foolish and detached from reality, as was evident from a particular space launch with some of the wealthiest business leaders aboard an interestingly shaped spacecraft. Keep in touch with what is going on with your people and in your operations and open your perspective to some of the negative perceptions that you can create by your actions. Think smart, do smart. - Arthi Rabikrisson, Prerna Advisory
11. Accept Your Mistakes In Front Of Others
Good leaders learn from their own experiences. However, in addition to their own experiences, great leaders also learn from other leaders’ experiences. If there’s one lesson a company leader today can learn from an infamous CEO, it’s to become vulnerable in accepting mistakes in front of others and demonstrate courage. That determines the character of a true leader who serves. - Nagesh Sharma, Flowsphere India Private Limited
12. Maintain An Evenness Of Mind
Embrace equanimity in the face of bad press; don’t allow it to sink even further. Leaders can learn how to maintain an evenness of mind, even under stress. Managing diverse expectations and impressions will be key for leaders to separate logic from emotionally charged behaviors and not allow further damage to result from any situation. The ability to manage one’s state of mind will set leaders apart. - Jedidiah Alex Koh, Coaching Changes Lives
