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mdc-u-grid-col-lg-end-8 mdc-u-ts-10"></div></section><section class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-animation-blur-in-400"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-5"><div class="mck-u-links-inline">The former CEOs of Aetna and Covidien reflect on their early days in the role.</div></div></div></section><main data-layer-region="article-body" class="mdc-u-grid mdc-u-grid-gutter-xxl"><div class="mdc-u-grid mdc-u-grid-col-1 mdc-u-grid-col-md-12"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div class="mdc-o-content-body mck-u-dropcap"><div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="DownloadsSidebar_mck-c-downloads-sidebar__iFmyt mck-o-xs-right-span"><div data-layer-region="downloads-right-rail"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f"></h3><div><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f"><a data-component="mdc-c-link" href="#/download/%2F~%2Fmedia%2Fmckinsey%2Fbusiness%20functions%2Fstrategy%20and%20corporate%20finance%2Four%20insights%2Fvoices%20of%20experience%20on%20the%20ceo%20transition%2Fvoices-of-experience-on-the-ceo-transition.pdf%3FshouldIndex%3Dfalse" class="DownloadsSidebar_mck-c-downloads-sidebar__download-link__fPqFQ mdc-c-link___lBbY1_2734c4f" target="_self" data-layer-event-prefix="Download Link" data-layer-action="click" data-layer-report-type="" data-layer-file-name="voices-of-experience-on-the-ceo-transition" data-layer-report-name="voices-of-experience-on-the-ceo-transition>"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mdc-c-icon--size-md___yi5fA_2734c4f mck-download-icon"></span><span class="mdc-c-link__label___Pfqtd_2734c4f"> (PDF-50 KB)</span></a></div></div></div></div> <p><strong>Moving fast,</strong> infusing the right culture and values, and targeting performance and skills—these were among the early priorities for the former CEOs of Aetna and Covidien. In a pair of video interviews with McKinsey’s Simon London, former Aetna CEO Ron Williams speaks to the importance of building a leadership team with the right values, and former Covidien CEO Jose Almeida (currently the CEO of Baxter International) reflects on divestitures and acquisitions and the moves he and his team made to reallocate capital. What follows are edited transcripts of their conversations.</p> <h4>Interview transcript</h4> <h2>Aetna’s Ron Williams on making critical moves</h2> <h3>Moving at the right pace</h3>  <p>Our pace of change always had to be rapid but measured. Our business is truly a technology business, and one of the things you learn is to never take apart anything you do not fully understand. Because when you snip the wires, you may never get them back together, and our customers will suffer. So we have to be in control of the inputs and outputs and customer-service levels. We often made very dramatic changes and important strategic moves, such as when we built our own pharmacy-benefits-management company up from nothing and later sold part of it, but we made sure it was extremely controlled so that we didn’t end up with a mess on our hands.</p> <p>A decision I always look back on was the failure to pursue the strategic advantage when we had it. We had committed a lot of resources to develop an important, innovative product that made us recognized as an industry leader. One of the mistakes we made was we let our competitors get into that space. If we had made acquisitions and taken other approaches, we would have had a very strong lock on a very important and growing product category. We had a lot of debate about it, and the notion was, “Well, we have the capability, why spend scarce capital on acquiring more?” Often, the fact that you keep a property out of another entity’s hands is a poor rationale for an acquisition. In this case, it would have been a good rationale in retrospect.</p> <h3>Moving on values</h3> <p>I spent a lot of time on culture and values. Our senior team would go offsite and really talk about what kind of company we wanted to be. What was our vision? What kind of culture do we want? What kind of values? How did we align our strategy, our culture, our technology, our executional capabilities, and our financial aspirations to really set the standard in the industry? The CEO has to infuse the culture and the values into the organization, and that means you must select a leadership team that believes in, articulates, and lives by those values. The technical skills and competencies—you can find those in lots of people, but your team has to have leadership skills as well.</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-disruptor1up mck-o-md-center mck-u-inline-module-border-top mck-u-inline-module-border-bottom mck-u-screen-only" data-layer-region="disruptor-1up"><div class="mdc-u-grid mdc-u-grid-gutter-md mdc-u-grid-col-lg-12 mdc-u-grid-col-md-12 "><div class="mdc-u-grid-col-md-span-12"><header data-component="mdc-c-header" class="mdc-c-header"><div class="mdc-c-header__block___i1Lg-_2734c4f"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f"><div>Would you like to learn more about our <a href="/capabilities/strategy-and-corporate-finance/how-we-help-clients">Strategy & Corporate Finance Practice</a>?</div></h3></div></header><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f mdc-c-link-container--display-column___X0HDD_2734c4f mck-c-disruptor1up__content Disruptor1Up_mck-c-disruptor1up__content--links__VV4lE mdc-u-grid-gutter-md"><a data-component="mdc-c-link" href="/capabilities/strategy-and-corporate-finance/how-we-help-clients/boardservices" class="mdc-c-link-cta___NBQVi_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Visit our Boards & C-suites page </span><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mck-link-arrow-right-icon"></span></a></div></div></div></div> <h2>Setting targets for Covidien: Jose Almeida reflects</h2> <h3>Targeting performance</h3>  <p>We used to have roll-up strategies from the business units to corporate, and corporate would create a forecast for the business for the next three years. The forecast would then be negotiated down with the units and result in a growth objective for the next three years. We completely changed that; that was probably the biggest change we made. We started with the desire to become a top-quartile performer in total shareholder return. We deconstructed TSR to the point that we understood the gap between the current work the company was doing on a discount-cash-flow basis versus the desired discount-cash-flow basis, and we found the difference was a few billions of dollars. So we went to work trying to fill the gap by changing the capital allocation into R&D projects, or through divestiture and acquisitions or other moves. Then we rolled down that strategy to the business units, which then developed specific plans. We knew what we had to do and how long we had to do it. </p> <h3>Targeting the right skills</h3> <p>Make sure your team has the right players for the moment, and make quick decisions to remove those who should not be at the table. Then in recruiting people, we tend to undervalue some important leadership skills that sometimes don’t show up in the skills matrix. Everybody values the drive for results, the quality of decision making, dealing with ambiguity, but there are some valuable skills that you don’t see everywhere. One is learning on the fly. People who can learn fast will take charge of a situation and can be mobile between businesses and functions. Another one is managing innovation. To manage innovation, you have to have the ability to allow empowerment, entrepreneurship, and to let go of control. Those skills are not often found in traditional hierarchical companies, where people tend to become very process-driven. And process is a tremendous hindrance to creativity and innovation. So go find those gems, the people who have those skills that are undervalued in your company’s leadership-skill inventory. Because those people will make you more successful as a CEO.</p> <h3>Targeting adaptability</h3> <p>Perhaps most important is adaptability. A great many companies today are matrix-organized. You can’t manage in this very complex world without a matrix, but everyone inside wants to be a general manager. They want to be the P&L owner. They want have that opportunity to manage a business. People need to understand that in a world where things are so complex, you can’t really do that anymore. When you’re launching a global product, you can’t have the responsibility of selling that product in every country under your accountability. You have to work through others. You’ve got to be able to influence others without having the power. That adaptability is huge. Many people who do not possess it fail at their jobs because they can’t understand emotionally how things work. </p></div><div class="container-placeholder"></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-xl"><section role="contentinfo" data-layer-region="article-about-authors" class="mdc-u-grid mdc-u-grid-col-md-12 AboutAuthor_mck-c-about-author__nRJzu"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f mdc-u-align-center"></h5><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-8 mck-u-links-inline mck-u-links-inline--secondary mdc-u-mt-5"><div><p><strong>Ron Williams</strong> was the CEO of Aetna from 2006 to 2010. <strong>Jose Almeida,</strong> currently the CEO of Baxter International, was the CEO of Covidien from 2011 to 2015. His reflections here are on his early years at Covidien. <strong>Simon London</strong> is a member of McKinsey Publishing and is based in McKinsey’s Silicon Valley office.</p></div></div></div></section><section class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-screen-only"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-5 mdc-u-grid-col-lg-end-9"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f mdc-u-align-center">Explore a career with us</h5><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f mdc-c-link-container--align-center___ar3mu_2734c4f"><a data-component="mdc-c-link" href="/careers/search-jobs" class="mdc-c-button___U4iY2_2734c4f mdc-c-button--secondary___Boipq_2734c4f mdc-c-button--size-large___jwpUy_2734c4f" aria-label="Search Openings" data-layer-event-prefix="CTA Link" data-layer-action="click" data-layer-category="careers" data-layer-subcategory="search" data-layer-text="Search Openings"><span class="mdc-c-link__label___Pfqtd_2734c4f">Search Openings</span></a></div></div></section></div></main></div><div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="lightest-grey" data-module-category="StandalonePromo" class="RelatedArticle_mck-c-article-related__GGA76 mck-u-screen-only" data-layer-region="related-articles"><div class="mdc-o-container__wrapper is-wrapped mdc-u-spaced-mobile"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-u-align-center">Related Articles</h5><div class="mdc-u-grid mdc-u-grid-col-md-3 RelatedArticle_items-container__s2uD0"><div class="mdc-u-grid mdc-u-grid-gutter-lg Card_card__diA2r Card_hover-effect__RGb9b"><div class="Card_wrapper-image__8b4P6"><a data-component="mdc-c-link" href="/featured-insights/leadership/how-new-ceos-can-boost-their-odds-of-success" class="mdc-c-link___lBbY1_2734c4f"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-hown-0 { aspect-ratio: 16/9 }</style><img alt="CEO-Transition-1536x1536_Standard" class="picture-uniqueKey-hown-0" src="/~/media/mckinsey/featured%20insights/leadership/how%20new%20ceos%20can%20boost%20their%20odds%20of%20success/ceo-transition-1536x1536_standard.jpg?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f Card_content-block__pF6Z1"><span>Article - <i>McKinsey Quarterly</i></span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a data-component="mdc-c-link" href="/featured-insights/leadership/how-new-ceos-can-boost-their-odds-of-success" class="mdc-c-link-heading___Zggl8_2734c4f mdc-c-link___lBbY1_2734c4f"><div>How new CEOs can boost their odds of success</div></a></h6></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-lg Card_card__diA2r Card_hover-effect__RGb9b"><div class="Card_wrapper-image__8b4P6"><a data-component="mdc-c-link" href="/featured-insights/leadership/letter-to-a-newly-appointed-ceo" class="mdc-c-link___lBbY1_2734c4f"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-lette-0 { aspect-ratio: 16/9 }</style><img alt="lece10_1536x1536_Original" class="picture-uniqueKey-lette-0" src="/~/media/mckinsey/featured%20insights/leading%20in%20the%2021st%20century/letter%20to%20a%20newly%20appointed%20ceo/lece10_1536x1536_original.jpg?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f Card_content-block__pF6Z1"><span>Article - 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<i>McKinsey Quarterly</i></span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a data-component="mdc-c-link" href="/featured-insights/leadership/making-the-most-of-the-ceos-last-100-days" class="mdc-c-link-heading___Zggl8_2734c4f mdc-c-link___lBbY1_2734c4f"><div>Making the most of the CEO’s <i>last</i> 100 days</div></a></h6></div></div></div></div></div></div></div></main></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"locale":"en","dictionary":{},"sitecoreContext":{"route":{"name":"Voices of experience on the CEO transition","displayName":"Voices of experience on the CEO transition","fields":null,"databaseName":"web","deviceId":"fe5d7fdf-89c0-4d99-9aa3-b5fbd009c9f3","itemId":"88bf9b97-55f7-4ffa-b0cc-ad157a323180","itemLanguage":"en","itemVersion":1,"layoutId":"ae753eb4-a035-40b4-83bf-4b4438df6742","templateId":"683910db-02ba-40ba-92e7-726c880160a9","templateName":"ArticleJSS","placeholders":{"jss-main":[{"uid":"232bb7e9-289f-492d-a916-2b6185e44a84","componentName":"ArticleTemplate","dataSource":"","fields":{"data":{"articleTemplate":{"title":{"jsonValue":{"value":"Voices of experience on the CEO transition"}},"sEOTitle":{"value":""},"description":{"jsonValue":{"value":"The former CEOs of Aetna and Covidien reflect on their early days in the role."}},"sEODescription":{"value":""},"displayDate":{"jsonValue":{"value":"2016-07-22T00:00:00Z"}},"body":{"value":"[[DownloadsSidebar]] \u003cp\u003e\u003cstrong\u003eMoving fast,\u003c/strong\u003e infusing the right culture and values, and targeting performance and skills\u0026mdash;these were among the early priorities for the former CEOs of Aetna and Covidien. In a pair of video interviews with McKinsey\u0026rsquo;s Simon London, former Aetna CEO Ron Williams speaks to the importance of building a leadership team with the right values, and former Covidien CEO Jose Almeida (currently the CEO of Baxter International) reflects on divestitures and acquisitions and the moves he and his team made to reallocate capital. What follows are edited transcripts of their conversations.\u003c/p\u003e\n\u003ch4\u003eInterview transcript\u003c/h4\u003e\n\u003ch2\u003eAetna\u0026rsquo;s Ron Williams on making critical moves\u003c/h2\u003e\n\u003ch3\u003eMoving at the right pace\u003c/h3\u003e\n[[Video Ron Williams]]\n\u003cp\u003eOur pace of change always had to be rapid but measured. Our business is truly a technology business, and one of the things you learn is to never take apart anything you do not fully understand. Because when you snip the wires, you may never get them back together, and our customers will suffer. So we have to be in control of the inputs and outputs and customer-service levels. We often made very dramatic changes and important strategic moves, such as when we built our own pharmacy-benefits-management company up from nothing and later sold part of it, but we made sure it was extremely controlled so that we didn\u0026rsquo;t end up with a mess on our hands.\u003c/p\u003e\n\u003cp\u003eA decision I always look back on was the failure to pursue the strategic advantage when we had it. We had committed a lot of resources to develop an important, innovative product that made us recognized as an industry leader. One of the mistakes we made was we let our competitors get into that space. If we had made acquisitions and taken other approaches, we would have had a very strong lock on a very important and growing product category. We had a lot of debate about it, and the notion was, \u0026ldquo;Well, we have the capability, why spend scarce capital on acquiring more?\u0026rdquo; Often, the fact that you keep a property out of another entity\u0026rsquo;s hands is a poor rationale for an acquisition. In this case, it would have been a good rationale in retrospect.\u003c/p\u003e\n\u003ch3\u003eMoving on values\u003c/h3\u003e\n\u003cp\u003eI spent a lot of time on culture and values. Our senior team would go offsite and really talk about what kind of company we wanted to be. What was our vision? What kind of culture do we want?\u0026nbsp; What kind of values? How did we align our strategy, our culture, our technology, our executional capabilities, and our financial aspirations to really set the standard in the industry? The CEO has to infuse the culture and the values into the organization, and that means you must select a leadership team that believes in, articulates, and lives by those values. The technical skills and competencies\u0026mdash;you can find those in lots of people, but your team has to have leadership skills as well.\u003c/p\u003e\n[[Disruptor1UP Learn more]]\n\u003ch2\u003eSetting targets for Covidien: Jose Almeida reflects\u003c/h2\u003e\n\u003ch3\u003eTargeting performance\u003c/h3\u003e\n[[Video Jose Almeida]]\n\u003cp\u003eWe used to have roll-up strategies from the business units to corporate, and corporate would create a forecast for the business for the next three years. The forecast would then be negotiated down with the units and result in a growth objective for the next three years. We completely changed that; that was probably the biggest change we made. We started with the desire to become a top-quartile performer in total shareholder return. We deconstructed TSR to the point that we understood the gap between the current work the company was doing on a discount-cash-flow basis versus the desired discount-cash-flow basis, and we found the difference was a few billions of dollars. So we went to work trying to fill the gap by changing the capital allocation into R\u0026amp;D projects, or through divestiture and acquisitions or other moves. Then we rolled down that strategy to the business units, which then developed specific plans. We knew what we had to do and how long we had to do it. \u003c/p\u003e\n\u003ch3\u003eTargeting the right skills\u003c/h3\u003e\n\u003cp\u003eMake sure your team has the right players for the moment, and make quick decisions to remove those who should not be at the table. Then in recruiting people, we tend to undervalue some important leadership skills that sometimes don\u0026rsquo;t show up in the skills matrix. Everybody values the drive for results, the quality of decision making, dealing with ambiguity, but there are some valuable skills that you don\u0026rsquo;t see everywhere. One is learning on the fly. People who can learn fast will take charge of a situation and can be mobile between businesses and functions. Another one is managing innovation. To manage innovation, you have to have the ability to allow empowerment, entrepreneurship, and to let go of control. Those skills are not often found in traditional hierarchical companies, where people tend to become very process-driven. And process is a tremendous hindrance to creativity and innovation. So go find those gems, the people who have those skills that are undervalued in your company\u0026rsquo;s leadership-skill inventory. Because those people will make you more successful as a CEO.\u003c/p\u003e\n\u003ch3\u003eTargeting adaptability\u003c/h3\u003e\n\u003cp\u003ePerhaps most important is adaptability. A great many companies today are matrix-organized. You can\u0026rsquo;t manage in this very complex world without a matrix, but everyone inside wants to be a general manager. They want to be the P\u0026amp;L owner. They want have that opportunity to manage a business. People need to understand that in a world where things are so complex, you can\u0026rsquo;t really do that anymore. When you\u0026rsquo;re launching a global product, you can\u0026rsquo;t have the responsibility of selling that product in every country under your accountability. You have to work through others. You\u0026rsquo;ve got to be able to influence others without having the power. That adaptability is huge. Many people who do not possess it fail at their jobs because they can\u0026rsquo;t understand emotionally how things work. \u003c/p\u003e"},"isFullScreenInteractive":{"boolValue":false},"hideStickySocialShareBar":{"boolValue":false},"desktopID":{"value":""},"mobileID":{"value":""},"desktopURL":{"value":""},"mobileURL":{"value":""},"desktopPaddingPercentage":{"value":""},"mobilePaddingPercentage":{"value":""},"desktopOverrideHeight":{"value":""},"mobileOverrideHeight":{"value":""},"cerosOembedURL":{"value":""},"cerosRenderMode":{"targetItem":null},"cerosBackgroundColor":{"targetItem":null},"hideByLine":{"boolValue":false},"tableOfContentsTitle":{"value":"TABLE OF CONTENTS"},"accessStatus":{"targetItem":{"key":{"value":"RegisteredUsers"},"value":{"value":"Registered Users"}}},"articleType":{"targetItem":{"displayName":"Interview"}},"hasSpecialReport":{"boolValue":false},"contentType":{"targetItem":{"displayName":"Article"}},"sourcePublication":{"targetItem":{"name":"McKinsey Quarterly","displayName":"McKinsey Quarterly","title":{"value":"McKinsey Quarterly"},"relatedlinks":{"url":"/quarterly/overview"},"landinglinks":{"jsonValue":{"value":[]}}}},"externalPublication":{"value":""},"mobileReady":{"boolValue":true},"forClientsOnly":{"boolValue":false},"excludeFromClientLink":{"boolValue":false},"originalPublishDate":{"jsonValue":{"value":"2016-07-22T16:31:00Z"}},"footnotes":{"value":""},"contributoryPractice":{"targetItems":[]},"aboutTheAuthors":{"value":"\u003cp\u003e\u003cstrong\u003eRon Williams\u003c/strong\u003e was the CEO of Aetna from 2006 to 2010. \u003cstrong\u003eJose Almeida,\u003c/strong\u003e currently the CEO of Baxter International, was the CEO of Covidien from 2011 to 2015. His reflections here are on his early years at Covidien. \u003cstrong\u003eSimon London\u003c/strong\u003e is a member of McKinsey Publishing and is based in McKinsey\u0026rsquo;s Silicon Valley office.\u003c/p\u003e"},"authors":{"targetItems":[]},"nonPartnerAuthors":{"targetItems":[]},"interactiveToUse":{"targetItem":null},"enableArticleComponents":{"boolValue":false},"relatedArticles":{"targetItems":[{"sourcePublication":{"targetItem":{"name":"McKinsey Quarterly"}},"publicationSource":null,"externalPublication":{"value":""},"title":{"value":"How new CEOs can boost their odds of success"},"url":{"path":"/featured-insights/leadership/how-new-ceos-can-boost-their-odds-of-success"},"eyebrow":{"targetItem":{"name":"Article"}},"articleType":{"targetItem":{"name":"Article"}},"contentType":{"targetItem":{"name":"Article"}},"description":{"value":"A data-driven look at the link between the strategic moves of new CEOs and the performance of their companies highlights the importance of quick action and of adopting an outsider’s perspective. \n"},"standardImage":{"src":"/~/media/mckinsey/featured insights/leadership/how new ceos can boost their odds of success/ceo-transition-1536x1536_standard.jpg","alt":"CEO-Transition-1536x1536_Standard"},"heroImage":null,"thumbnailImage":null},{"sourcePublication":{"targetItem":{"name":"McKinsey Quarterly"}},"publicationSource":null,"externalPublication":{"value":""},"title":{"value":"Letter to a newly appointed CEO"},"url":{"path":"/featured-insights/leadership/letter-to-a-newly-appointed-ceo"},"eyebrow":{"targetItem":{"name":"Article"}},"articleType":{"targetItem":{"name":"Article"}},"contentType":{"targetItem":{"name":"Article"}},"description":{"value":"McKinsey’s former managing director Ian Davis offers to new CEOs advice distilled from his experience supporting executives during their transitions into the role."},"standardImage":{"src":"/~/media/mckinsey/featured insights/leading in the 21st century/letter to a newly appointed ceo/lece10_1536x1536_original.jpg","alt":"lece10_1536x1536_Original"},"heroImage":null,"thumbnailImage":null},{"sourcePublication":{"targetItem":{"name":"McKinsey Quarterly"}},"publicationSource":null,"externalPublication":{"value":""},"title":{"value":"Making the most of the CEO’s \u003ci\u003elast\u003c/i\u003e 100 days"},"url":{"path":"/featured-insights/leadership/making-the-most-of-the-ceos-last-100-days"},"eyebrow":{"targetItem":{"name":"Article"}},"articleType":{"targetItem":{"name":"Article"}},"contentType":{"targetItem":{"name":"Article"}},"description":{"value":"For the sake of their companies—and their legacies—departing chief executives should leave things in the best possible shape. 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