Why leadership today is about time, honesty and adaptability

Shiv Shivakumar has helmed companies like PepsiCo India , Nokia, and currently serves as Operating Partner at Advent International. With decades of leadership experience, he has now written The CEO Mindset, a book that distils lessons on leadership, time management, and building organisations that last. In a conversation with Fortune India, Shivakumar spoke about why the CEO role demands more than ambition, what habits matter most, and how the next generation views leadership. Excerpts from the interview: 

Q. Why did you feel the need to write The CEO Mindset now? Everyone seems to want to be a startup founder today.

When I teach in business schools and ask how many want to be CEOs, 90% of the hands go up. But only 5–7% of a batch actually make it to that post. The reason I wrote the book is because you need what I call “staying power” over 15–20 years to reach the CEO chair. Entrepreneurship, on the other hand, is also aspirational today because of value creation. But that too is a slog role, it takes 10–15 years for success. The difference is people feel more in control as entrepreneurs than slogging for someone else.

Q. There’s been a lot of debate about whether success requires working 70–80 hours a week. What’s your view on work-life balance?

I don’t agree with that at all. It’s not about the number of hours; it’s about the impact you create. Roger Federer didn’t practice 100 hours a week. Each individual has to know what impact they bring. You can sit in office 12 hours a day and do nothing. I prefer someone who spends less time but delivers results. That’s why I talk about work-life integration, not balance. With technology today, you can manage your 24 hours as you see fit.

Q. You’ve also proposed the CHARLIE framework. Which part do you think leaders struggle with most?

CHARLIE stands for Communication, Holistic thinking, Absolute standards, Reframing, Legacy, Investing in people, and Ethical conduct. Of these, the weakest area for CEOs is intellectual honesty, which is part of ethical conduct. Many take shortcuts if they can get away with it. But unless you’re honest about performance—your own and your team’s—you can’t build a great organisation.

Q. You’ve led Nokia through its turbulent years. Looking back, what did it teach you about leadership and adaptability?

The biggest mistake was choosing Windows over Android. It was a strategic blunder by the CEO and the board, and then it was forced down everyone’s throat. When things didn’t work, blame was shifted to others instead of taking responsibility. That experience taught me how critical it is to make the right strategic bets and own up when you’re wrong.

Q. Do women face a different path to the CEO role in India?

At the school and college level, there’s no difference—girls do as well as boys, in fact better. Even in some IIMs, women now make up 50% or more of the batch. But in workplaces, especially frontline sales, women are less than 10%. The real challenge for women is the natural breaks in their careers, like motherhood. Companies need good policies to ensure that isn’t seen as a deterrent. Beyond that, women need role models, sponsors, and operational roles, even project-based, that give them visibility. Networking is another challenge. Men see networking positively, women often see it negatively. But networking is part of leadership, you can’t expect to get the top job if you’re not networked enough.

Q. How is Gen Z changing the workplace, and what does that mean for CEOs?

Gen Z doesn’t respect grey hair or hierarchy. They won’t do something just because you told them to. They need to believe they can learn from you. They’re articulate, tech-savvy, and very quick to switch if they don’t see value. CEOs must engage with them differently, show them why something is good for them, not just the company. And be prepared for their style. Once, a rank-holding chartered accountant came up to me and said, “Hi bro, how are you?” That’s who they are. It’s not disrespect—it’s their way.

Q. What has being a CEO yourself taught you?

It’s a tough job, thankless in many ways. Everyone has an opinion on what the CEO should be doing. My biggest learning: give people what they need, not what they want. Today many organisations are into what I call tamasha management—pizza parties on Tuesday, dress-up days on Wednesday. These are tactics. Real leadership is about engagement and authenticity. The other lesson: never assume people will do what’s right for the organisation. Most people will do what’s right for themselves.