When Experience Stops Being Enough

For years, the path to becoming a CEO was largely predictable. Executives earned the right degrees, built deep industry expertise, climbed the corporate ladder, and, if timing and circumstances aligned, stepped into the top role. That era is over, and the environment leaders face today demands something fundamentally different.

In conversations with sitting and aspiring biopharma CEOs, one reality came through clearly: the emotional intensity of the role, the pressure to perform amid uncertainty, and the realization that technical excellence is no longer what sets leaders apart. CEO readiness today is shaped by inner development, self-awareness, adaptability, and judgment under pressure rather than tenure or timing. 

Against this backdrop, navigating complexity successfully requires more than past achievements; it calls for continuous access to development opportunities, critical not only for sustained leadership success but also for positioning organizations to thrive amid disruption.

No leader steps into the CEO role fully prepared. The demands are too complex, the uncertainty too constant, and the emotional and cognitive load too heavy to be carried on experience alone. Career paths once offered built-in progression and preparation for the top role in a more straightforward manner. That consistency has faded. In addition to strong credentials and expertise, what is needed now is a leader’s internal capacity: the ability to reflect, reframe, and adapt when events move faster than decisions can.

Both sitting and aspiring biopharma CEOs feel this shift in different but connected ways.

Aspiring CEOs spoke of high expectations paired with low clarity. They mentioned sporadic feedback, limited visibility into how they are perceived, lack of formal mentorship and development, and little transparency on CEO succession processes. These are seasoned leaders in top positions within their organizations, but their journey often feels incomplete—not by choice but because they are not offered clear insight on what they are doing well and where they need to develop, with clear opportunities for development.

Sitting CEOs expressed the intensity of carrying responsibility that cannot be delegated. Many reflected on their own inner evolution. One shared, “You need to have your inner voices under control.” Another noted, “It is a constant reflection on where my battery level stands.” These insights strongly align with Egon Zehnder’s recent global CEO Response study, which captured perspectives from 1,235 chief executives on the near-unanimous need for adaptability, agility, curiosity, and open-mindedness.

Looking back, several biopharma leaders wished they had begun inner work earlier. As one CEO put it:

In biopharma, where decisions shape patient lives, scientific integrity, and societal trust, the need for this kind of grounding is further amplified. CEOs who can anchor their work in continuous development are far better equipped to handle the daily demands of the job, stakeholders, and also balance a heavy emotional load with constant disruption. 

Biopharma is full of capable leaders. Those who will truly thrive as CEOs won’t simply be the most experienced, but the most intentionally developed. More often than not, we also hear from high-potential leaders that they do not aspire to become CEO—a reality that poses a strategic challenge for boards and a risk to organizational continuity. Succession planning is not about filling gaps; it’s about building resilience and securing a strategic advantage. Boards that invest in a structured, long-term approach to leadership development create a pipeline of ready leaders, retain top talent, and foster organizational stability. 

A robust development pathway includes several reinforcing components:

Future CEOs need visibility into the emotional, political, stakeholder and strategic dimensions of the role long before they step into it. Exposure to board expectations, governance conversations, and real-time enterprise trade-offs accelerates understanding and maturity.

Elevated self-awareness—understanding who leaders are and why—sets the foundation for growth. Executive coaching, leadership training, and sustained mentorship help leaders deepen that awareness and expand their range. Regular assessments and disciplined feedback loops offer clarity on how leaders are evolving and how their impact is perceived.

Senior executives require sponsors who will surface their potential, challenge their assumptions, and create air cover as they take on roles that stretch their judgment.

Assignments that impose ambiguity or require seeing the organization from an entirely different vantage point build judgment and perspective. These formative moments can dramatically enhance a leader’s preparedness. A common roadblock, however, is fear of not being able to return to a familiar role, especially after expatriate or cross-functional assignments. Organizations can ease this by creating clear reintegration pathways, reassuring leaders that a hero’s journey won’t derail career progression.

The board’s greatest responsibility lies in succession planning. When they view it as a continuum, they create the conditions for consistent development, better long-term planning, and increased organizational resilience.

These mechanisms shift organizations away from a model where CEOs emerge by chance, through informal mentorship or fortunate timing, and toward one where readiness is deliberately built. At a time of rising CEO turnover, this deliberate approach is essential for organizational stability and long-term success.

This is the moment for biopharma companies to redefine what CEO readiness truly means. The forces shaping leadership today demand far more than experience or technical expertise. They call for leaders who can adapt, demonstrate self-awareness and curiosity, and maintain the perspective needed to make critical decisions under pressure.

Succession cannot be treated as a single event. It must be a continuum starting early, building steadily, and supporting leaders through the profound identity shift the CEO role requires. When organizations invest consistently, when boards engage deeply, and when aspiring leaders have access to intentional development, succession becomes less a leap into uncertainty and more a strategic evolution that positions both leaders and organizations for long-term success.