Introduction
Almost all CEOs (95 percent) rely on professional coaches or a network of informal advisors to hone their thinking on important organizational issues. Advisors are particularly valued for their integrity, insight, and discretion. Relationships with advisors extend over years — even decades — and include trusted family members, former classmates, social acquaintances, and peers at other corporations.
Half of CEOs use a professional coach, and 82 percent rely on a carefully selected “kitchen cabinet” of friends, acquaintances, and former colleagues to advise on sensitive workplace issues.
“The stigma around asking for help has lifted,” says Professor David F. Larcker, Stanford Graduate School of Business and The Hoover Institution at Stanford University, who led the study. “Whereas historically it might have been seen as a sign of weakness or uncertainty for business leaders to ask for help, CEOs and directors today are much more comfortable — even eager — to canvass friends and engage professional coaches to sharpen their skills, to make sure they have the full range of knowledge to solve thorny organizational problems. The stereotype of the self-sufficient CEO is being replaced by a recognition that no one has to go it alone.”
“Discretion is key,” adds Stephen A. Miles, CEO of The Miles Group, and co-author of the study. “The issues CEOs and directors grapple with are highly sensitive. Business leaders are careful to cultivate professional and informal advisors known for honesty, judgment, and, above all, confidentiality with whom they can discuss a wide range of topics from assembling the right team, to dealing with difficult constituents, addressing social controversies in the workplace, and maintaining work-life balance. Coaching and feedback from a kitchen cabinet provide a rare space for open reflection.”
“The mainstream adoption of coaching reflects how the role of CEO has evolved from being the ultimate authority in an organization to a leader who leverages external insights to drive better outcomes,” says Professor Amit Seru, Stanford Graduate School of Business and The Hoover Institution at Stanford University. “CEOs are seeking input because they want to move faster, stay sharp, and avoid blind spots. Their success increasingly hinges on who they trust and invite into their inner circle.”
In the spring of 2025, the Stanford Graduate School of Business, Arthur and Toni Rembe Rock Center for Corporate Governance, Governance of Organizations Working Group at the Hoover Institution, and The Miles Group surveyed 90 CEOs to understand how they rely on paid and informal advisors to improve their work performance.
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