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Leadership in the Quantum Computing Industry

By German Hernandez and Mariana Marquez Montanez
October 2024

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Quantum computing — the use of quantum mechanics to process information dramatically faster than traditional computers — has long captivated innovators for its possibilities to upend many industries and fields. Recent advances in computing power have increased optimism about how quantum computing could help companies across industries tackle the world’s toughest problems, from strengthening cybersecurity to supporting healthcare research and beyond.

The companies at the forefront of this technology — ranging from tiny start-ups to quantum units within massive multinational companies — are presented with tremendous opportunity, as well as immense challenges. For all the promise of its potential uses, the technology is still largely in the development stage, with continued investment needed and revenue generation for many of its uses possibly still years away.

As quantum computing companies face this landscape, the state of their leadership is also critical. According to sector data compiled by Spencer Stuart, more than two-thirds (67 percent) of leaders in quantum computing are founders; 26 percent previously served as CEOs in other tech sectors, while 6 percent took over after M&A.

This current industry context presents an interesting leadership question for companies in this space: How do you prepare for the future of leadership in this industry, be it with supporting today’s leaders or finding tomorrow’s?

In this article, we look at the key leadership traits for this industry, how to empower and develop founders, and what steps to take to ensure a robust succession plan — all with the goal of driving this industry into the next phase of growth.

While the details of an executive’s resume may be the easy element of a leadership profile to uncover, Spencer Stuart research has found that “below the surface” traits — namely, capacity (leaders’ potential to learn and adapt on the job) and character (how they are likely to respond when stretched beyond what they’ve done in the past) — are often better predictors of a leader’s potential for future success. This is certainly true in quantum computing, where there is a relative scarcity of “experienced” leaders. That’s why, regardless of whether you’re looking from within or to external candidates for leadership, it’s critical to search for leaders with the right constitution for the job.

What does that mean in quantum computing? Our experience in this sector and in other similar fields has shown that qualities such as strategic thinking, results orientation, change management skills, collaborative and influencing abilities, and an ability to develop people and teams can prove important. The most successful leaders are also outstanding judges of character, possess a strong personal drive, and are highly credible with customers, investors, employees and management.

Quantum computing also requires strong networkers who can build strong C-suite teams amid a complex industry. Ideally, they have a mix of technical expertise and commercial opportunities. To find leaders with these kinds of capabilities, companies can conduct assessments to ascertain candidates’ ability to perform and meet the demands of a highly complex and evolving role.

Regardless of whether you’re looking from within or to external candidates for leadership, it’s critical to search for leaders with the right constitution for the job.

For some founders, evolving with the business presents an exciting opportunity for growth; with work and an openness to taking feedback, they can accumulate new skills and strengthen their leadership muscle. But that’s easier said than done; what’s needed to run, say, a five-person start-up is quite different from what you’ll need to lead a team of 100. The board can work together with the current leaders to ensure that they are getting the coaching and development they need, and that the organization's growth momentum continues.

The board can work together with the current leaders to ensure that they are getting the coaching and development they need, and that the organization's growth momentum continues.

Boards can help their founders foster a deep understanding of the challenges and opportunities they may face as they help their companies transition beyond early growth phases. For example, the board might mentor key executives, probe leadership during board meetings and conduct 360-degree evaluations. This approach also helps uncover early warning signs — such as weak plans for scale, substandard policies or a skills gap — so they can execute timely interventions.

These methods point to the importance of active and engaged governance, ensuring not only leadership continuity but also organizational agility and resiliency within a dynamic industry.

While the founder grows as a leader, a strong CEO succession plan is important as boards take steps to help the company thrive in the near and long term. With a strong succession plan, boards can gain a transparent look on the strengths and weaknesses of the current CEO and the whole C-suite, what skills are needed, and how a transition might happen.

We see three key strategies for how to develop a robust succession plan.

1. Define the ideal CEO profile

As we noted above, “the right experience” will be hard, if not impossible, to find in a CEO candidate. That’s why the company needs a strong perspective on current and future needs and what skills and leadership characteristics can help meet them.

When seeking “above the surface” qualities that may translate to quantum computing, seasoned leaders in sectors like semiconductors may offer the technical and commercial skills required. Other strong career credentials could include experience with:

  • Investor management
  • Startup growth and fundraising
  • Navigating complex sector ecosystems of providers, vendors and collaborators
  • Scaling early-stage tech businesses
  • Turnarounds in growing markets
  • Public and private go-to-market strategies
With a strong succession plan, boards can gain a transparent look on the strengths and weaknesses of the current CEO and the whole C-suite, what skills are needed, and how a transition might happen.

2. Execute ongoing evaluations

We advise boards to create a living document defining the leadership mix to serve the company for at least the next five years, while also reflecting the current organizational culture. Of course, agile leadership is key, and the document should be updated regularly to address the current state of the company.

3. Gain founder and board support

Whatever the path forward, getting the founder’s blessing for a leadership change, if possible, can open up the path to growth by limiting disruption and helping current leaders and employees embrace a new leader CEO. During this shift, the board can address issues such as whether how new leadership will work with the existing team.

Conclusion

Quantum computing is nearing a high-stakes crossroads. As the industry continues to accelerate, companies must ensure they are strong enough organizationally to grow quickly. This means having leaders in place — be it founders or successors — who can guide their companies forward.

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© 2024 Spencer Stuart