The authors have conducted a two-year study of how new CEOs in large organizations gain access to seasoned counsel and feedback. Although these leaders have usually experienced mentoring earlier in their careers, arrival at the top suddenly narrows the available and appropriate options. To keep raising their game--and having their thinking usefully challenged--CEOs need wise mentoring. They're finding it, the authors learned, by turning to high-profile veteran leaders from outside their companies. But these arrangements have some tricky aspects: Special considerations must go into matching mentor and mentee, structuring their sessions to deliver the intended benefits, and prioritizing the process so that it isn't crowded out by other demands. Total confidentiality is an absolute necessity--as are regular meetings--and storytelling is the mode of knowledge sharing both parties usually prefer. "Most interesting to us," the authors write, "was the psychological boost that mentors' war stories seemed to give new CEOs."

Leaders find transitions into new roles the most challenging times in their professional lives, when they either build credibility and create momentum or stumble and sow doubts about their effectiveness. Much attention has therefore been given to how they should take charge in their early days--but far too little to how the organization should set them up for success from the start. Failure to announce appointments in the right way can undo all the work that went into the selection and and hobble even the strongest leader from the start. When someone unexpected is chosen, the transition can set off an emotional storm. To avoid a bad start, the leader who made the selection, his or her HR partner, and the communications, investor relations, and legal professionals who advise them must provide good answers to four fundamental questions: (1) What message is this appointment meant to convey? (2) Why is this person the right one for the job? (3) Which members of the organization need to be informed? (4) What should they be told and when? In the critical days following an appointment, senior leaders must continue to communicate the rationale for the appointment and signal consistent and enthusiastic support in words and deeds.