When an executive leaves, the CEO should step in to run their department directly. This provides invaluable operational context for hiring a replacement and empowers the CEO to make necessary but difficult changes (org structure, personnel) that a new hire would hesitate to implement.

When diagnosing a failing department, stop looking for tactical issues. The problem is always the leader, full stop. A great leader can turn a mediocre team into a great one, but a mediocre leader will inevitably turn a great team mediocre. Don't waste time; solve the leadership problem first.

The higher you climb in an organization, the more your role becomes about solving problems. Effective leaders reframe these challenges as rewarding opportunities for great solutions. Without this mindset shift, the job becomes unsustainable and draining.

Peter Zaffino admits his job as AIG's CEO isn't "fun" in the traditional sense, but he couldn't imagine not doing it. The reward comes from the gratification of collective achievement and leading a transformation, not daily enjoyment. He views the role as a major sacrifice, driven by commitment and responsibility.

Contrary to the popular advice to 'hire great people and get out of their way,' a CEO's job is to identify the three most critical company initiatives. They must then dive deep into the weeds to guarantee their success, as only the CEO has the unique context and authority to unblock them.

Jim Lanzone's motivation for becoming Yahoo's CEO was the extreme difficulty of the task. Having a history of corporate turnarounds, he was attracted to what he called 'the granddaddy of all turnarounds.' This mindset of actively seeking out the biggest challenges defines his leadership approach.

CEOs often complain about team failures or external factors. However, they are the ones who hire, set the culture of accountability, and build resilient systems. Accepting that you are the root cause of all problems is empowering because it means you also hold the power for all solutions.

Harvey's COO doesn't own a single function like GTM. Instead, she tackles complex, cross-functional initiatives that the CEO would otherwise have to lead. She manages stakeholders and synthesizes options, effectively acting as a clone of the CEO for driving company-wide strategic projects and increasing his leverage.

To maintain speed, leaders in large companies should focus their personal energy on high-potential projects that the organization won't solve on its own. These are often risky, cross-functional initiatives that require senior intervention to overcome corporate inertia.