What is a CEO
The abbreviation CEO usually stands for Chief Executive Officer or less commonly Corporate Executive Officer. It is the highest paid position in an Incorporated company. The Chief Executive Officer normally reports directly to the Board of Directors and Shareholders of the company. He sometimes is the top person on the Board of Directors and sometimes just their answer person.
To rise to the top and become a CEO it helps if you are doing something that you really like, if you don’t then you’re not going to be that successful at it. You have to enjoy the field you are working in and welcome the challenge of working with people you may have disagreements with. Running a successful business involves utilizing the right people with the right skills and placing them in the right positions. It is also important not to micro-manage the tasks of those under you but give them the freedom to solve problems using their own methods.
Arthur Carmazzi, considered one of the top ten leadership coaches in the world teaches that “as a leader you must allow others to fail… If your into control, into making sure everything is perfect it is not going to happen and therefore you will not develop leadership in others. So you must allow others to fail”.
By allowing others to fail you can help them learn from their mistakes and where they went wrong. Learning through failure is an effective ways of becoming a stronger leader.
How to become a ceo quickly?
So how long does it take to become a ceo? If your young then you have a greater chance of rising to the top and becoming a CEO quickly in the tech sector, particularly the internet field.
More public-company CEOs age 40 and under lead organizations involved in technology products or services than work in any other industry.
Examples include the following:
Mark Zuckerberg
Created Facebook when he was just 19 years old.
Estimated Net worth: $3.2 Billion
Matt Mullenweg
Created WordPress when he was 19 years old
His Estimated Net worth: (Unknown)
Tom Anderson
Created Myspace when he was 23 years old.
His Estimated Net worth: $100 Million
Larry Page and Sergey Brin
Created Google when they were just 24 years old.
Their Estimated Net worth: $18.5 Billion Each
Jerry Yang & David Filo
Created Yahoo when they were just 26 and 28 years old
Their Estimated Net worth: $2.2 Billion Each
Chad Hurley and Steve Chen
Created Youtube when they were 28 and 27.
Their Estimated Net worth: $300 Million Each
Pierre Omidyar
Created Ebay when he was 28 years old
His Estimated Net worth: $8.8 Billion
If you start out in the tech field this can help executives in related business, such as retail. Michael Soenen, 36-year-old chief of flower seller FTD, recalls becoming CEO of his company’s Web division in 1999. “Internet CEOs were young by nature, and the success we were having made me a logical choice,” Soenen explains. “Having run that business successfully, becoming CEO of FTD Inc. was a natural extension for me.”
Many of the youngest CEOs achieved their position by launching their own companies from scratch. If you want to be a CEO quickly start a company and call yourself a CEO. Becoming a CEO does not always have to involve a long arduous rise to the top.
How to become a CEO of a company?
To know how to become a CEO of a specific organization it is useful to understand how major CEOs in that organization got there, their background, education and what they have in common.
For example take banking. How to become a CEO of a bank?
Some of the top CEO bankers include:
Lloyd Blankfein – Chief Executive Officer and Chairman of Goldman Sachs
- Born in to a Jewish family in the Bronx, New York City
- Attended Harvard University, in 1978, Blankfein received a J.D. from Harvard Law School.
- Blankfein earned a total of $53.4 million in 2006, making him one of the highest paid executives on Wall Street.
James L. Dimon – CEO and chairman of JPMorgan
- His grandfather, a Greek immigrant from Turkey, was a broker and passed on his knowledge of the business to his son and partner.
- He majored in psychology and economics at Tufts University, before earning an M.B.A. degree from Harvard Business School
John Mack
- Mack was born in 1944 the sixth son to Lebanese immigrants.
- Mack graduated from Duke University in 1968
- Worked at several firms around Wall Street before starting his career at Morgan Stanley in 1972
John Stumpf – Chairman, President and CEO of Wells Fargo & Company.
- Received his BS degree in finance from Saint Cloud State University and his MBA in finance from the University of Minnesota.
- Joined Norwest Corporation in 1982 as senior vice president and chief credit officer for Norwest Bank
Many Bank CEOs share a similar history in that they often graduated with degrees in law, finance or business sometimes from prestigious universities such as Harvard.
Many of these CEOs spent time in wall street before becoming bank CEOs or were CEOs of major cooperation’s before becoming bank CEOs.
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