"The velocity of change alone, says Constantine Alexandrakis, CEO of Russell Reynolds Associates, is unlike anything he has seen in his nearly twenty years at the executive recruitment firm. "Our clients are moving at a frenetic pace," he says. "Every company is driving transformation to either meet the moment or take advantage of it." The issues aren't new-trade, geopolitics, technology-but the intensity and overlap are. "The convergence of all these forces has made transformation ubiquitous and urgent," Alexandrakis says."
"This shifting reality is reflected in the second Fortune Next to Lead list, published this morning, which spotlights 25 influential executives inside the Fortune 500 whose track records and ascent signal they're credible, near-term contenders for a CEO seat, regardless of whether they're actually seeking it. Some are operating just one level below the top job; others are reshaping entire divisions or industries. Collectively, they embody what CEO readiness now requires."
"That readiness looks markedly different from what it once did. A decade ago, companies sought deep industry experience, strong financial performance, and the ability to lead change. Those capabilities remain indispensable-boards still expect leaders to generate growth and deliver strong financial results-but there is now an added expectation that CEO candidates can drive transformation. "A CEO may not be a technologist," Alexandrakis says, "but they must understand the levers to pull to use technology to drive change.""
The CEO role now demands rapid, continuous transformation driven by the convergence of geopolitical instability, economic volatility, investor pressure, and fast-paced technology. Executives must balance traditional expectations—industry expertise and financial performance—with an added requirement to lead technology-enabled change. Boards increasingly seek leaders who can speak the language of technology and mobilize levers that use tech to transform organizations, even if the CEO is not a technologist. A cohort of 25 Fortune 500 executives demonstrates the new profile of CEO readiness, combining operational experience, transformation track records, and the ability to reshape divisions or industries.
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