The majority of Nigerian CEOs (30 percent) in our study indicated that enabling long-term business success is their main motivation. In contrast, at a global level, 22 percent of CEOs are driven to deliver short-term growth.
However, Nigerian CEOs feel that they have less time to make an impact than previous generations of executives. Seventy percent of CEOs believe that the average tenure of a CEO is around 5 years, which is shorter than when they began their careers. As a result, 3 in 4 Nigerian CEOs believe that the average tenure of a CEO means there is more urgency to act with agility.
CEOs understand that leading an organisation in ‘interesting times’ takes more than talk about new business models and innovation; it requires courage and inspirational leadership, an ability to protect as well as provoke, and close involvement in all corners of the organisation.
C-level roles have already changed significantly over recent years as CEOs respond to new demands. The established direct reports of the CEO – such as the CFO and CRO – have been joined by new C-suite capabilities, from Chief Digital Officers to Chief Data Officers. While CEOs have added more firepower to their leadership teams, they are not stopping there.
Three-quarters of Nigerian CEOs (74 percent) said that they are actively transforming their leadership team to build resilience.