ON Partners, a pure-play retained executive search firm building diverse C-level and board leadership teams, has released its 2025 CEO Report exploring multi-faceted pathways to the CEO role. Utilizing first- and third-party data, the firm analyzed 25,000 candidates and current CEOs to uncover key findings in the evolving landscape of executive leadership.
The report reveals that 40% of CEO candidates possess prior CEO experience, and nearly 70% of those hired were already seasoned CEOs. This underscores the importance of experience in organizations’ decision-making processes when selecting top leaders.
Pathways to the CEO Role
The data highlights several common career trajectories. Presidents make up the largest group, with nearly 30% of CEOs having previously held this role. Similarly, senior operational leaders such as general managers (GM), senior vice presidents (SVP), and executive vice presidents (EVP) contribute another 29.5%.
Functional roles also play a part, with 5.7% of CEOs rising from chief financial officer (CFO) positions, 4.6% from chief revenue officer (CRO) roles, and 3.8% from chief marketing officer (CMO).
On average, a CEO’s career includes nine roles across seven companies, reflecting the diverse experience and adaptability required to lead.
However, the path to leadership varies by organization type. Public companies often prioritize candidates with broad leadership experience and the ability to navigate complex stakeholder landscapes, with roles like SVP, EVP, GM, and president serving as key stepping stones to the CEO position.
Venture capital-backed companies, in contrast, favor operational expertise and growth-focused leaders, typically chief operating officers (COO) or CROs, who can drive rapid scaling and execution in fast-paced environments.
Private equity-backed and privately held organizations seek a balance of strategic vision and operational know-how, favoring candidates with proven success as CEOs or Presidents and strong hands-on leadership experience.
Executive Search Commentary
“When companies hire a CEO, experience is the primary factor they evaluate; our data further validates that claim,” said Bryan Buck, managing partner at ON Partners. “However, the journey to the corner office is as varied as the organizations seeking to fill it. A company’s size, industry, and strategic priorities all influence what leadership looks like.”
“In niche industries, deep expertise and strong relationships often outweigh prior CEO experience,” stated Tara Flickinger, partner at ON Partners. “In two of our recent private equity-backed searches, both hires were first-time CEOs chosen for their intimate industry knowledge—critical for companies late in their hold periods with no time for a learning curve.”
“For those aiming to step into their first CEO role, don’t be discouraged by the preference for prior experience—many first-time CEOs deliver exceptional results,” said Tim Conti, partner at ON Partners. “To prepare, focus on owning a true profit and loss statement (P&L) and demonstrating accountability for financial outcomes. Successful P&L leadership is key to earning a Board’s confidence.”
To learn more about ON’s approach and additional findings on the role of CEOs, visit https://onpartners.com/contact-executive-recruitment-agency/.
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