Crack the C-Suite Code: How Successful Leaders Make It to the Top

By Cassandra Frangos

A 2018 DIGITAL BOOK AWARD FINALIST FOR BEST BUSINESS BOOK

Covered in Forbes, Fast Company, and Harvard Business Review, Crack the C-Suite Code is "a true insider's guide," according to Harvard Business School professor Boris Groysberg.

How can I reach the C-suite? That is the most common question Cassandra Frangos hears from the executives she coaches. Many aspire to reach the C-suite, but the typical paths to the top are hard to find and difficult to follow.

In Crack the C-Suite Code, Frangos reveals the hidden dynamics for reaching the C-suite. She offers expert guidance based on her experience as a consultant at Spencer Stuart and former head of global executive talent at Cisco, a company with 70,000 employees. Her deep research on the topic includes candid interviews with CEOs, hundreds of aspiring C-suite candidates, and the leading experts in the field.

Frangos identifies four core paths you can follow to reach the C-suite: The Tenured Executive, The Free Agent, The Leapfrog Leader, and The Founder. To actively improve your chances for success, she presents:
Insider knowledge from current CEOs and well-known executivesGuiding questions that clarify the risks and rewards associated with each pathAccelerators and derailers that either enhance or detract from your chances to succeedAdvice on how to leverage your experience, leadership brand, and mindset to help you land on the C-suite short listInsight on how the evolving role of the CEO affects your strategy to reach the top

A career playbook for anyone who aspires to the top spot, Crack the C-Suite Code features advice from successful C-level leaders, including Accompany's Amy Chang, Goldman Sachs' Edith Cooper, Nest's Yoky Matsuoka, Cisco's Chuck Robbins, and Corning's Wendell Weeks. These and other top leaders from a broad range of companies, including Microsoft, Google, and General Electric, tell the stories of their success and help aspiring executives crack the C-suite code.

"If you've ever wanted to really figure out how to ascend to the C-suite, this is your Rosetta Stone."—James M. Citrin, Leader, Spencer Stuart CEO Practice, and author, You're In Charge, Now What?

"Frangos has created a roadmap for executives on the fast track."
—Sylvia Ann Hewlett, author, Forget a Mentor, Find a Sponsor and Executive Presence

• Language: English
• Publisher: University of Pennsylvania Press, Inc.
• Release date: Mar 8, 2018
• ISBN: 9781613630853

Book preview

Praise for Crack the C-Suite Code

2018 DIGITAL BOOK AWARD BEST BUSINESS BOOK FINALIST

In this compact book, Frangos focuses on the Holy Grail of the C-suite, which sits at the pinnacle of every professional career, and lays out not only a variety of reasons why people might want to achieve that goal, but also an assortment of methods for attaining it…. A lean and bracingly straightforward look at the core paths to the executive suite.

—Kirkus Reviews

If you’ve ever wanted to really figure out how to ascend to the C-suite, this is your Rosetta Stone. Based on in-depth research and case studies, Frangos identifies and quickly brings to life the four key routes to the top. A must-read for all aspiring executives!

—James M. Citrin, Leader, Spencer Stuart CEO Practice, and Author, You’re in Charge, Now What?

Frangos has created a roadmap for executives on the fast track. With concrete depth, she lays out the tactics that guarantee a spot on the top team.

—Sylvia Ann Hewlett, Author, Forget a Mentor, Find a Sponsor and Executive Presence

Stories straight from CEOs combined with expert advice make this a true insider’s guide. The framework provided by Frangos is clearly understood, practical and rooted in real-world insights, making this book a powerful tool for students and executives alike as they strategically map out the future of their careers.

—Boris Groysberg, Professor of Business Administration, Harvard Business School

With insightful advice and input from scores of C-suite executives, Frangos creates a roadmap for professional success that is both compelling and entertaining.

—David P. Norton, Co-founder, The Palladium Group, and Co-creator, Balanced Scorecard Collaborative

CASSANDRA FRANGOS

CRACK THE C-SUITE CODE

HOW SUCCESSFUL LEADERS MAKE IT TO THE TOP

© 2018 by Cassandra Frangos

Published by Wharton School Press

The Wharton School

University of Pennsylvania

3620 Locust Walk

2000 Steinberg Hall-Dietrich Hall

Philadelphia, PA 19104

Email: [e-mail]

Website: http://wsp.wharton.upenn.edu

All rights reserved. No part of this book may be reproduced, in any form or by any means, without written permission of the publisher. Company and product names mentioned herein are the trademarks or registered trademarks of their respective owners.

Ebook ISBN: 978-1-61363-085-3

Paperback ISBN: 978-1-61363-084-6

9 8 7 6 5 4 3 2

To all my friends (especially Laura Downing), family, mentors, and colleagues who helped me during the loss of my lovely mum, which coincided with the joy of writing this book.

Contents

Introduction: One Question, Four Answers

Chapter 1:     Four Core Paths to the C-Suite

Chapter 2:     The Tenured Executive

Chapter 3:     The Free Agent

Chapter 4:     The Leapfrog Leader

Chapter 5:     The Founder

Chapter 6:     Hybrid Paths to the C-Suite

Chapter 7:     Reaching the Top Team

Conclusion: Four Paths, One Last Question

Appendix: Contributing Executives and Expert Advisors

Acknowledgments

Notes

Index

About the Author

About Wharton School Press

About The Wharton School

Introduction

One Question, Four Answers

With so much changing in business, it is easy to recognize when something remains static.

That’s what happened to me a few years ago when I was coaching a senior executive at Cisco. He had joined the organization two months prior and was already working through his first-90-days agenda and earning respect from his peers. As we wrapped up a conversation about his goals, he sprung the career question I hear most commonly from executives who are hovering two to three levels from the top: So, what do you think I need to do to reach the C-suite?

In this case, the executive’s face became a little sheepish as he asked. Others inquire with intensity, in a deadly serious voice. Then there are those who lean in with a hushed, conspiratorial tone, as if entry into the C-suite requires some kind of secret code.

The question is common, though the circumstances in which it is asked vary widely. Executives want to reach the C-suite for different reasons. Some are extremely ambitious, and they see making the top team as the pinnacle of success. Others want to have greater impact and believe they can make a difference in the world working from the top. Neither of these reasons, nor any others I have heard, is wrong. They’re just different.

In my role at Spencer Stuart, which entails collaborating with Fortune 500 leaders on executive assessments, succession planning, leadership development, and top-team effectiveness, I have had the chance to consider this question with great frequency. Previously, as former head of executive global talent and organizational development at Cisco, a company with 70,000 employees, I worked with the top team in numerous ways: successful executives planning their future, C-suite leaders orchestrating their succession, boards looking at the strength of the organization’s leaders, executive recruiters looking for their next C-suite hire, and so on.

Most of my attention at Cisco, however, was spent interacting with two distinct groups. First, I worked with the top 500 leaders, conducting executive assessments, creating development plans, and attending to their coaching needs. They all wanted to succeed at Cisco, and my job was to help them advance or move on. Next, I partnered with the company’s C-suite to help them develop leadership capabilities within their respective teams. Part of that involved putting succession plans into place. A few years ago, I worked with Cisco’s board and our chief people officer to oversee the CEO succession process, when John Chambers handed the chief executive mantle to Chuck Robbins. That experience gave me a whole new lens through which to consider this question.

In my work at Spencer Stuart, as well as at Cisco, I have seen the race to the top team play out many times. Some years ago, I began to take notes and form my own conclusions about how to help people get there. Still, I needed to go deeper into the topic and get beyond my own experience. So my journey in exploration began. I talked to as many C-suite executives as I could, across industries over a multi-year period, at conferences and networking events, and over the course of my everyday job. I got in the habit of asking them to tell me their stories. Suddenly, I was the one asking the question, So, what did you do to reach the C-suite?

For this book, I formally interviewed dozens of CEOs and other C-suite executives from a broad range of companies and industries. After that, I surveyed 350 additional executives who are likely to be C-suite candidates in the future. I also interviewed the topmost experts in executive recruiting, leadership development, and management academia.

With this research and inquiry as the backdrop, I established a practical framework for how leaders make the leap into the C-suite. It helps that I have a keen interest in the intersection of psychology and business, which led me to pursue advanced degrees in education, psychology, and organizational development. My multidisciplinary background allowed me to piece together a coherent theory, despite the fact that the answer to the question at hand is somewhat different in every case.

When the executive I mentioned earlier asked his question, I answered it in the same way I always have: I don’t know how you’ll reach the C-suite. It’s different for everyone—you need to find the right path.

And this book, Crack the C-Suite Code: How Successful Leaders Make It to the Top, will help you find your own path. It reveals the Four Core Paths to the C-suite and explains what experiences and career strategies will hasten your journey. As you’ll see, some of these paths entail introducing disruption into your career, while others require patience and tenacity. This combination of mastering the old and embracing the new mirrors business at large today, where leaders must remain ahead of change and complexity while they also steer everyday operations in a way that creates constancy.

Now, I would like to share these paths with you. Along each of them, you will encounter what is new about how to reach the C-suite, and you will also learn to master the things that may forever remain the same on this eventful, complex, and compelling journey.

Chapter 1

Four Core Paths to the C-Suite

When Chuck Robbins was named CEO of Cisco in May 2015, he was both a surprising successor and the obvious choice. His appointment was disruptive as well as clear and consistent. The passing of the baton in this race to the top was the result of a leapfrog succession, in which Robbins, Cisco’s head of sales, advanced two levels in the organization to become chief executive. The board of directors bypassed two Cisco presidents to boost the 49-year-old Robbins up to the top slot,¹ and the announcement caught some external observers and analysts by surprise.

Yet, within Cisco, Robbins was acknowledged by many to be the ideal successor. His promotion was the product of an extensive succession planning approach that included an exhaustive search. As part of that, those of us on the team managing the succession process conducted qualitative and quantitative assessments on every serious candidate—detailing their strengths, development needs, strategic abilities, blind spots, followership profiles, and so on. The lengthy process was meticulous—so much so that the board’s ultimate decision was unanimous. That unequivocal endorsement was a tremendous vote of confidence for Robbins, and it sent a positive message to the entire organization as well as the press and external stakeholders.

Robbins’s story is as instructive as it is unique. The Leapfrog Leader Track, the one that helped him rise to the top, is one of the Four Core Paths that we will examine in detail throughout this book.

Over the course of my career, I’ve coached hundreds of executives at Cisco, Spencer Stuart, and elsewhere who aspired to serve on the top team. And many, like Robbins, have found their path and succeeded. One chief strategy