Level 5 Executive
According to Jim Collins, there are some significant differences between a level 4 leader and a level 5 leader. A level 5 leader is highly ambitious for the success of his company. He wants his company to succeed irrespective of his presence at the helm. For example, Sam Walton, a level 5 leader, had unique and charismatic personality. When he was suffering from cancer in 1992, everybody wondered what would happen to Wal-Mart once Sam Walton is gone. But Sam Walton wanted to prove that his company is bigger than himself. He wanted to show that the company would be equally successful even when a charismatic leader like him does not head it. He chose David Gloss, who was non-charismatic, to succeed him. The company continues to be great even after its founder is dead. On the other hand, a level 4 leader does not bother much about the greatness of the company once he is gone. Lee Iacocca, for example, can be considered a level 4 leader. A level 4 leader ensures high level performance during his reign, but hardly cares about the future performance of the organization in his absence. A level 4 leader is often more bothered about his greatness than his company's greatness.