04 M C K I N S EY Q UA RT E R LY - - → Contents E S T D 1 9 6 4 M C K I N S E Y. C O M M C K I N S E Y Q UA RT E R LY 2 0 2 6 T A I M E F O R C O U R A G E : T H E N E W L E A D E R S H I P I M P E R A T I V E A Time For Courage The New Leadership Imperative 2 0 2 6 ON THE COVER Our cover image reflecting the courageous leader ship that is needed at a moment when so much is chang ing was created by Mike McQuade. The businesspeople were created by Sinelab. FEATURES COVER PACKAGE: COURAGEOUS LEADERSHIP 32 Courageous Conversations: How to Lead with Heart CEOs know that courage is crucial to guiding organizations through uncertainty. Every conversation is an opportunity for clarity. by Kurt Strovink, Meagan Hill, and Mike Carson 42 Nail Your Firsts: A New CEO’s Guidebook to Stakeholder Impact New and incoming CEOs are often unprepared for the intensity of stake holder engagement. The right mindset and actions can make all the difference. by Blair Epstein, Carolyn Dewar, and Richard Steele 42 CEO’s Guidebook 52 The New Workflow: People, Agents, and Robots To move beyond minimal gains from AI, some companies are transforming the way they get things done. Here are four examples. by Anu Madgavkar, Sven Smit, Alexis Krivkovich, and Michael Chui -