Share
Facebook Facebook icon Twitter Twitter icon LinkedIn LinkedIn icon Email
Tough-at-the-top-Featured

Talent

Tough at the top: Why CEOs are moving beyond invincibility

Published May 19, 2026 in Talent • 5 min read

As pressure on chief executives grows, long-held assumptions about toughness are being challenged. IMD’s Nele Dael explains why it is important for those at the top of organizations to be open about burnout.

Stress is nothing new for chief executives, who have always worked under pressure. But the way they are expected to manage it has started to change. The stigma around showing vulnerability is decreasing as the definition of resilience evolves.

Burnout is now firmly on the agenda, with concerns about attrition in the top role. Research shows that 234 CEOs left their roles in 2025, which was 16% more than in 2024 and 21% above the eight-year average. Shareholder activism has also intensified, with a six-year high in campaigns in 2024 and an “unprecedented” number of CEO resignations following activist pressure.

Yet despite this growing attention, CEO burnout is still poorly understood. Most research focuses on employees and middle managers. When CEOs are included, burnout is often portrayed as a more intense version of executive stress.

Burnout at the top is not just about the volume of pressure. It is also about how stress accumulates and how it affects judgment in a role defined by visibility, responsibility, and isolation.

Stressed businessman sitting in office
Burnout at the top does not always show up as distress

Endurance has limits

CEOs have typically been rewarded for their endurance: the ability to stay calm, absorb strain, and continue making decisions under pressure. This resilience has long been seen as an essential leadership trait. But these qualities come with hidden risks.

Emotional control can mask early warning signs. What looks like composure might in fact reflect a slow draining of mental and emotional reserves that disrupts sleep and diminishes judgment long before performance visibly suffers.

This is why burnout at the top does not always show up as distress. Instead, it is a process of gradual erosion: poorer decisions, less openness to challenge, and greater risk tolerance. It is likely to emerge as poor judgment rather than a drop in productivity.

Using the same principle, speaking candidly about strain and expressing vulnerability can build trust with external stakeholders.

Vulnerability is no longer taboo

How can CEOs respond to burnout? For decades, the message was clear: never show weakness. You might unnerve investors, unsettle staff, and undermine your own authority.

When it comes to external stakeholders, evidence is emerging that challenges these fears. Studies suggest that stakeholders respond more positively when leaders accept responsibility when their organizations perform poorly rather than trying to deflect blame. Analysts assigned higher valuations to companies whose CEOs acknowledged disappointing performance than they did to firms where CEOs blamed external factors. Authenticity, it turns out, can build confidence rather than erode it.

Using the same principle, speaking candidly about strain and expressing vulnerability can build trust with external stakeholders. Measured disclosure can humanize leadership without weakening credibility. The key is balance: this is not about oversharing or turning personal struggle into brand identity. It’s about recognizing that silence can now carry its own costs.

When it comes to internal stakeholders, the dynamic is different, but arguably more powerful. Research into mental health at work shows that a healthy and sustainable work culture is more helpful for employees’ well-being than therapy or self-care resources. When CEOs acknowledge limitations or speak openly about the pressure they are under, they build psychological safety across the organization. Disclosure once carried reputational risk; today, non-disclosure can undermine trust.

More than any other executive, CEOs are isolated: they have few peers and are incentivized to project an image of composure. Openness can ease that burden and support their physical, cognitive, and emotional recovery. In high-pressure roles, this is essential for decision-making.

It is time for CEOs to question what is meant by resilience.

AI is not a quick fix

AI is being explored as a form of mental health support, including reducing anxiety among veterans. And it is easy to see why CEOs might also turn to it. Used as a work tool, AI can help them to prepare for difficult conversations, test decisions, and reflect on difficult trade-offs. For time-constrained CEOs without many trusted peers, this could also be useful as a form of mental health support.

But digital tools do not replace human connections. They cannot recreate the trust, belonging, or psychological safety that underpin healthy leadership and sound judgment. For CEOs already prone to isolation, relying on AI to manage their stress may reduce pressure in the short term, but it will deepen their disconnection over time.

It is time for CEOs to question what is meant by resilience. Today, resilience is no longer measured by how much pressure leaders can absorb, but by how they respond to it.

Authors

Nele Dael

Nele Dael

Nele Dael is a Senior Behavioral Scientist at IMD Business School, where she co-leads the Workplace Well-being Initiative. An emotion psychologist by training, Nele’s research examines the psychological foundations for sustainable performance – spanning employee mental health, leadership, personal resilience, stress and recovery, and emotion regulation – shaping how people work and lead.

Related

Learn Brain Circuits

Join us for daily exercises focusing on issues from team building to developing an actionable sustainability plan to personal development. Go on - they only take five minutes.
 
Read more 

Explore Leadership

What makes a great leader? Do you need charisma? How do you inspire your team? Our experts offer actionable insights through first-person narratives, behind-the-scenes interviews and The Help Desk.
 
Read more

Join Membership

Log in here to join in the conversation with the I by IMD community. Your subscription grants you access to the quarterly magazine plus daily articles, videos, podcasts and learning exercises.
 
Sign up
X

Log in or register to enjoy the full experience

Explore first person business intelligence from top minds curated for a global executive audience