Have you ever wondered what it takes to be a successful CEO in today's fast-paced business landscape? The role is evolving, with the average tenure at less than 24 months in Q1 2024. In recent years, there has been increasing conversation about the changing nature of the CEO role.

So who is the CEO of 2024 – even 2025? In this article, I will explore The evolving role of the CEO and the key characteristics that define successful leaders in today's world.

1. Ability to build trust

Since the year almost half (48%) of a company's reputation is attributed to the CEO, building trust is paramount in today's competitive business landscape. As agility, collaboration and innovation become increasingly essential, traditional command-and-control leadership models are no longer sufficient. Effective CEO it should inspire confidence as a cornerstone of their leadership approach.

Forms of leadership based on trust organizational culturecreating a psychologically safe environment where employees feel empowered to take risks, express their opinions and innovate freely. This not only drives employee engagement and satisfaction, but also drives organizational excellence in the face of uncertainty.

Building trust extends beyond internal relationships. Successful leaders understand that trust is the foundation of strong relationships, contributing to business growth and sustainability. Effective communication and interaction with external audiences is essential to building and maintaining trust.

Satya Nadella, CEO of Microsoft, is a prime example of how a leader can build trust with external stakeholders. Under his leadership, Microsoft has successfully transitioned from traditional software to cloud solution and AI services, which require a change in communication strategies. Nadella's openness and transparency have been instrumental in building trust with customers and partners.

2. Growth mindset

of The dichotomy of “founder mode” vs. “manager” in the startup field is a topic that has piqued my interest. I lean heavily toward the “founder mode” approach, finding it most effective when my team executes operational tasks smoothly and consistently.

As a founder, I often find myself in one the role of mentoringleading my team, directing their energy, identifying issues and allowing them to learn from their mistakes. Founders possess a special entrepreneurial spark that can ignite the same passion in others. While managers may excel at creating more managers, founders have the unique opportunity to cultivate mini-founders within their teams.

A leader operating in “founder mode” can maintain a thriving entrepreneurial culture as a company grows and becomes more structured. By fostering an environment where everyone can absorb this energy and thrive, founders can ensure that the company's innovative spirit is sustained.

Related: Why a growth mindset is essential to success

3. Effective communication

As leaders navigate complex challenges and strive to inspire their teams, the ability to deliver clear, inspiring messages and actively listen to feedback is paramount, as 82% of employees appreciate the regular updates from their leader. Transparent and inspiring communication it boosts confidence, boosts morale and increases productivity. Additionally, nearly a third of employees believe that effective CEO communication positively affects financial performance.

Patricia Poppe became CEO of Pacific Gas & Electric in 2021, and from the start, she led PG&E through a period of challenges by rebuilding trust, promoting a new, mission focused on the environmentreassuring stakeholders and demonstrating PG&E's commitment to a sustainable future.

Poppe's ability to clearly and convincingly communicate complex ideas was evident in her announcements about major investments in green energy and the transition to renewables. By fostering an atmosphere of open dialogue and transparency, Poppe encouraged employee engagement and inspired confidence in PG&E's ability to successfully navigate challenges.

4. Difficult leadership decisions

As businesses grow and grow, leaders are often faced with difficult decisions involving their teams. While early employees may experience a shift in their level of involvement and struggle to adapt as the company evolves, it is essential to focus on individual responsibilities and career development. These decisions, while challenging, are essential to the continued success of the company. Think of it as a football team moving from a lower division to a higher one. Not everyone is prepared for the increasing demands of the new level.

Related: 4 key strategies that helped me turn setbacks into success

As companies move from small, informal teams to larger, more structured organizations, it is essential to maintain a strong sense of connection and purpose. By creating clear systems and fostering a supportive environment, leaders can ensure that everyone feels valued and engaged as the company moves forward.

5. Strategic vision

A CEO's role extends beyond day-to-day operations. It's about shaping the future of business by strategically managing resources, fostering teamwork and developing leaders. Flowwow continues to expand its reach across the MENA region, Spain and Brazil. Our focus is on adapting and localizing our platform in these new markets, continuously increasing the number and quality of sellers and acquiring new customers. As the business grows, the CEO will increasingly focus on long-term strategic initiatives.

This strategic perspective is essential to predicting the company's future and navigating the pitfalls of modern business. Former eBay executive Donahoe's experience at Nike highlights the importance of a well-crafted strategy. His initial DTC strategy, while well-intentioned, ultimately proved ineffective. Recognizing this, Nike made one strategic shift and appointed a new CEO with a focus on online commerce.

Successful CEOs are known for their ability to anticipate future trends, make strategic decisions and adapt to change. This ability is their compass, which guides the business towards a prosperous future.

The role of the CEO is multifaceted and essential to the success of a company. By combining strategic vision, resource management, adaptability and resilience, CEOs can navigate complex challenges, inspire their teams and drive sustainable growth.

Related: 3 Success Strategies from Oprah, Richard Branson and Jeff Skoll