3 ways outdated CEO expectations cost female leaders their legacy

Women in leadership face an invisible tax: conform or be sidelined. Yet outdated CEO expectations cost female leaders their opportunity for lasting influence and impact.

Many female CEOs are highly visible. Their appointment makes headlines. They sit on panels. They lead organisations with thousands of employees and billions in revenue. They are photographed, quoted, and recognised. Yet, despite the spotlight, many female CEOs remain invisible in a crucial way.

Their true selves, motivations, and unique leadership philosophies are often hidden beneath the scripted expectations of corporate leadership. They are seen, but they are not fully known. They are leading, but are they given true power to show us the way? 

3 Risks for Female CEOs Playing the Role 

It is possible to shape an industry while playing the expected role; delivering financial performance, meeting board expectations, and managing stakeholders. Many female CEOs do this successfully. However, something is lost when they stay within that predefined role.

1. They Become a Figurehead, Not a Movement Leader

A CEO who stays within the expected mould may be respected but will most likely find it harder to drive transformative industry change. Their leadership is about sustaining success, not shifting paradigms.

• 📌 Example: Carolyn McCall (UK) – As CEO of easyJet, McCall led the airline to financial success but also broke gender stereotypes in aviation leadership. However, it was in her later role as CEO of ITV where she became more outspoken about diversity in media, making her influence extend beyond her executive position.

2. Their Influence Ends When Their Tenure Ends

A CEO who leads within the safe bounds of the corporate script often sees their influence fade the moment they leave the company. Their legacy is tied to their role, not their personal leadership philosophy.

• 📌 Marissa Mayer (USA, Yahoo!) – During her tenure as CEO of Yahoo! (2012–2017), Mayer was one of the most talked-about executives in Silicon Valley. A former Google executive, she was seen as a high-profile, high-stakes hire. Her decisions, from Yahoo’s acquisition strategy to her controversial policies on remote work (she recalled the Yahoos to the office), were scrutinised. However, after leaving Yahoo following its sale to Verizon, her public influence in the tech industry significantly diminished. Unlike some other former tech CEOs who transitioned into thought leadership or policy influence, Mayer largely stepped out of the spotlight, only resurfacing years later with a relatively quiet startup, Sunshine.
• 📌 Marnie Baker (Australia, Bendigo and Adelaide Bank) – Marnie Baker was a well-regarded leader in Australian banking, serving as CEO of Bendigo and Adelaide Bank from 2018 to 2023. With decades of experience in the sector, she was a key figure in regional banking discussions and customer-owned financial models. However, after stepping down in 2024, her public presence in the industry has quietened. Unlike some banking leaders who transitioned into advisory roles, think tanks, or public advocacy, Baker’s influence is currently a ‘watch-this-space’ one. I’m hopeful she’ll re-emerge to lead powerful conversations for women and finance!

3. They Miss Opportunities for Deeper Influence

Industry transformation doesn’t happen just in boardrooms (as women know all too well having spent years knocking on the doors of locker-rooms and private men’s clubs). Today, transformation is also sparked in media, policy, and cultural conversations. CEOs who don’t own and articulate their unique leadership stance could miss the chance to influence beyond their organisation.

• Ellen Pao (USA, Reddit) – In 2015, Ellen Pao served as the interim CEO of Reddit during a tumultuous period. Her tenure was marked by significant challenges, including user unrest and internal controversies. Despite her efforts to implement policy changes and address systemic issues within the company, Pao resigned after just eight months. This short tenure, probably a classic glass cliff moment, limited her ability to influence broader industry conversations about diversity and inclusion in tech, areas where her leadership could have had a lasting impact.

Rewriting the Script: From Playing the Role to Shaping the Future

For female CEOs, the cost of playing the expected ‘CEO role’ is more than just personal – it’s systemic. It reinforces the idea that leadership must look, sound, and act a certain way to be credible. And despite decades of progress, the reality is that we’re not seeing real transformation. In many ways, leadership is stagnating or even regressing back into rigid, traditional moulds.

The number of women in top executive roles remains stubbornly low. The pipeline to CEO positions is still riddled with barriers, and those who do break through often find themselves pressured to conform rather than redefine leadership on their own terms. For every visible female CEO, there are still thousands of capable women whose leadership potential is sidelined or underleveraged.

This is why stepping beyond the predefined role matters. The female leaders who make the most lasting impact don’t just manage within the system but actively challenge it. They push against outdated expectations, ensuring their influence isn’t tied solely to their tenure but extends into broader cultural, policy, and industry conversations.

What it means for you as a CEO

Will you be remembered for the role you played – or the movement you ignited? We need to see you. The real you. And you need us to champion you.

Change won’t happen unless we force it – by stepping out of the mould, raising our voices, and showing up as brand us, not just brand system.

Let’s stop waiting for leadership to evolve. Let’s make it evolve.

If my words have sparked an energy or excitement in you, please get in touch for a conversation about how I can help you step into a new era of thought leadership.