Employees, customers, and stakeholders expect a CEO to articulate where the company stands on critical issues—it’s increasingly becoming an expectation of the CEO role. the chips are down, you’re going to find out just Harness the real power of peer how strong your values are.” Robert Smith puts it networks simply: “When the bills come due, we’ll see what Here’s one of the most noteworthy changes we CEOs do—it is not guaranteed that there has been have seen during the pandemic: CEOs are talking a full shift to stakeholder capitalism yet.” Still, more to one another much more and are seeking to do CEOs are stepping out in front vocally, making their so at a much greater rate. Says Lance Fritz, “Two views known on topics ranging from values to ethics. months ago, the business community was thinking, Employees, customers, and stakeholders expect ‘If we don’t figure out a thoughtful path, we could a CEO to articulate where the company stands wallow in this for a long, long time.’ So CEOs started on critical issues—it’s increasingly becoming an thinking, ‘Let’s learn from each other. Let’s hold expectation of the CEO role. Some, such as Larry hands.’ There’s even a little bit of commiseration. I Fink, expect that this shift will continue to gain haven’t put enough value on the ability to be with a strength: “Going forward, there is going to be a lot couple of other CEOs on one of these Zoom calls, more focus on society, customers and clients, family, or on the phone, and talk about any number of and employees.” The moment of the pandemic things that are unique that you can’t talk to anybody offers CEOs the opportunity—and increases their else about.” We believe that having CEOs spend obligation—to acknowledge this reality. more time laterally will prove useful not only for responding to the current pandemic, but also for CEOs who believe in the opportunity of stakeholder addressing emergent issues and unlocking higher capitalism should ask themselves the following levels of business performance, innovation, and questions to help turn beliefs into action: multistakeholder impact in an ever more complex and uncertain world. — Based on the stakeholder interests that I need to recalibrate, what practically must look different Invest further in building relationships with in the next six, 12, and 18 months (including other CEOs the frequency and nature of interactions, CEOs are communicating more, and expanding management processes, and resource their networks, in part because only another allocation)? CEO confronting the pandemic can fully identify with today’s leadership challenges. As Laxman — How and when will I reset expectations with my Narasimhan, CEO of Reckitt Benckiser, puts it: shareholders? “I find talking to other CEOs about how they are handling the crisis extremely helpful—this shared — How will we measure progress as we transition? experience connects us and gives me added 152 What now? Ten actions to emerge stronger in the next normal September 2020