Top McKinsey executive reveals Asian owner-CEOs' secrets to success
Gautam Kumra, Asia chairman at consultancy McKinsey & Co., researched the qualities of Asia's best owner-CEOs.
TL;DR
- Successful leaders can think long-term and short-term, as well as big-picture and detailed.
- Empowering ordinary people to achieve extraordinary performance and having a mission-oriented approach are key traits.
- Owner-CEOs in Asia create the most value and achieve the highest returns for shareholders and on invested capital.
- These CEOs take risks on people, offer stretch opportunities, and build new businesses.
- McKinsey also rewards self-propelled initiative and provides stretch opportunities to employees.
- Transitioning leadership is difficult for owner-CEOs due to delegation issues, potential disconnect from market realities, and lack of institutionalized processes for successors.