Chief executive officers (CEOs) have reputations for being unreachable elites and visionaries. While that’s true to a degree, not all leaders see the role of CEO the same. In fact, former Newell Brands’ Michael Polk believes the role of CEO is changing—and that’s a good thing.
Not only that, but CEOs should adapt to the market, employee expectations, and new business models to stay relevant in an increasingly uncertain economy. After more than 40 years at the helm of both large and small companies, Michael Polk shares his views on how the role of CEO should evolve in 2025 and beyond.
Michael Polk’s Time at Newell Brands and Other Large Companies
The responsibilities of a CEO differ significantly between leading a large public conglomerate and a smaller private company. “There are lots of different variables that can contribute to the kind and scope of work being different for a CEO,” Michael Polk says.
With over 40 years in leadership roles at companies like Kraft, Unilever, and Newell Brands, Polk understands the unique demands of public company leadership. At a conglomerate like Unilever, CEOs focus on delegation and resource allocation. “The way you do that is by focusing on the strategic agenda of the company in allocating resources in a way that delivers against the strategic plan you’ve got. You’re typically working through other people and leading through other people to get things done,” he says.
CEOs manage a broader talent pool in these public companies and dedicate significant time to investors. “As a CEO of a public company, I was certainly spending thirty percent of my time with investors and with the public markets,” Polk notes. He emphasizes that value creation is the goal of any CEO, whether the company is public or private. However, public companies demand quarterly performance reporting, requiring CEOs to juggle short-term results with a long-term vision.
It’s a high-stakes and high-pressure position. It’s no wonder why Michael Polk pursued a different trajectory after coming out of retirement in 2019.
Michael Polk’s Entry Into the Private Market
Polk currently leads Implus, a smaller private equity-owned company, where his role is more hands-on. “While the talent in my company is hungry and competitive, they tend to be younger and have less breadth of experience,” he explains. This lack of experience isn’t necessarily a bad thing, but it does mean that Michael Polk—and other CEOs in similar positions—have to work hard to model the behaviors they want their teams to adopt.
Some leaders might find the hands-on effort a nuisance, but not Michael Polk. He finds joy in being more involved with his ambitious employees. “I’m doing marketing with the marketing team. I’m doing the strategic selling, the design of our selling systems, and the design of our go-to-market programs with the commercial team. In many ways, it is a back-to-the-future experience as I am doing the work I loved doing 20 years back in my career,” he explains.
Private companies still need to generate returns, but there isn’t nearly as much pressure to perform in privately-owned businesses. In Polk’s experience, this offers a greater degree of flexibility that allows him and his team to take bigger risks (with hopefully bigger payoffs). “Our owners are focused on the strategic development of the company because they know that this orientation will contribute to the long-term health of the company,” he says.
The Ultimate Goal? Value Creation
CEOs must adapt to their organization’s unique demands regardless of company size. Still, some truths are universal, as Michael Polk learned throughout his long career. “Accessibility, authenticity, and making sharp choices are all central to being successful in the role,” he says. While public companies demand rigorous accountability, private companies provide the space for transformative growth. For a motivated and growth-minded leader like Polk, the private space offers an amazing opportunity to be bolder. Challenges differ in public and private environments, but the ultimate goal of a CEO remains the same: create value and drive transformative growth.