Eldership: The Next Step for Experienced Business Leaders?

This week I attended two events that were both really enjoyable and thought provoking.

Firstly, our team at Mercia Ventures concluded a series of dinners that we have held throughout the UK where we invited a group of Non-Executive Directors to join us for a great meal and a wide ranging discussion and secondly I joined a webinar with US based coaches Chip Conley and Jerry Colonna.

At the Dinner we had experienced and successful business leaders from a variety of backgrounds who are now Non-Executive for multiple companies and I was struck how all shared a passion for helping support and guide the next generation of leaders acting as Elders.  

Chip Conley is a former hotel entrepreneur and has written multiple books one of which described his experience of being the “elder” supporting the founders of AirBnB.  He has set up The Modern Elders Academy that coaches individuals, many of whom are successful entrepreneurs make the transition to Eldership, the next stage of their career.  

Whilst I am not sure Conley’s  often week long retreats are for me it does highlight the significant benefits of sharing our knowledge as we transition to the second half of our career as eldership is a role that combines mentorship, guidance, and wisdom-sharing to nurture the next generation of leaders.

Linked to this theme, last year I was also recommended a great book (thank you Hayley!) “To Plant a Walnut Tree” by Trevor Waldock.

Waldock uses the metaphor of planting a walnut tree to illustrate the idea of long-term impact. A walnut tree takes many years to mature and bear fruit, much like the influence of a mentor or leader who invests their time in others. 

The book addresses the inner struggles of seasoned professionals and leaders who, after years of hard work, may feel disillusioned or unsure about their next steps.  Something where I have personally spoken to many Non-Executives as they start to make the transition.  Waldock suggests that the key to fulfilment at this stage is shifting from a success-driven mindset to one focused on significance—helping others to grow and develop.

One of the book’s core themes is mentorship and personal renewal. Waldock emphasises that people who have accumulated knowledge and experience have a responsibility to pass it on to the next generation. Instead of retiring into irrelevance, they can find new energy and purpose by becoming mentors, coaches, and guides. He argues that this transition is not just about giving back but also about self-renewal. By engaging with younger generations, experienced leaders can rediscover their passion and stay relevant.

By stepping into eldership roles, experienced leaders can travel a continuous journey of impact and in an era demanding wisdom and foresight, eldership is a powerful and purposeful next chapter for business leaders.

To Plant a Walnut Tree: How to Create a Fruitful Legacy by Nurturing Others by Trevor Waldock is a book that explores the concept of leadership, legacy, and personal transformation. It is particularly focused on those who are in the later stages of their careers or lives and are searching for deeper purpose and meaning.

Summary

Waldock uses the metaphor of planting a walnut tree to illustrate the idea of long-term impact. A walnut tree takes many years to mature and bear fruit, much like the influence of a mentor or leader who invests in others. The book addresses the inner struggles of seasoned professionals and leaders who, after years of hard work, may feel disillusioned or unsure about their next steps. Waldock suggests that the key to fulfillment at this stage is shifting from a success-driven mindset to one focused on significance—helping others grow and develop.

One of the book’s core themes is mentorship and personal renewal. Waldock emphasizes that people who have accumulated knowledge and experience have a responsibility to pass it on to the next generation. Instead of retiring into irrelevance, they can find new energy and purpose by becoming mentors, coaches, and guides. He argues that this transition is not just about giving back but also about self-renewal. By engaging with younger generations, experienced leaders can rediscover their passion and stay relevant.

The book is structured as both a philosophical exploration and a practical guide. Waldock provides strategies for meaningful leadership, such as:

• Developing a legacy mindset, where one focuses on leaving behind something valuable rather than just personal achievements.

• Practicing deep listening and coaching, which allows mentors to truly understand and support those they guide.

• Cultivating humility and adaptability, ensuring that experienced professionals remain open to learning and growth even as they teach others.

• Fostering resilience and patience, much like a walnut tree takes time to grow, meaningful mentorship requires sustained effort.

Waldock also addresses the emotional and psychological aspects of this transition. Many professionals struggle with letting go of their past identity, especially if their self-worth is tied to their career achievements. He reassures readers that shifting from being the "hero" of their own journey to becoming a "gardener" of others’ success is not a loss but an evolution.

The book includes real-life stories of people who have successfully made this transition. These stories illustrate how individuals who once felt aimless found a renewed sense of joy by investing in others. Whether through formal mentorship programs, community engagement, or simply being available for guidance, these leaders created a fruitful legacy that outlived their individual careers.

Conclusion

To Plant a Walnut Tree is an inspiring call to action for those seeking to find meaning beyond personal achievement. By investing in others, leaders not only enrich the lives of those they mentor but also experience personal transformation and fulfillment. The book serves as both a philosophical reflection and a practical guide, making it a valuable read for anyone looking to leave a lasting impact.

One notable example is Howard Schultz, former CEO of Starbucks, who transitioned into an advisory role after stepping down. Schultz’s deep understanding of Starbucks’ mission and values allowed him to offer invaluable counsel during pivotal moments, ensuring the company stayed true to its roots while embracing change.

Similarly, Indra Nooyi, former CEO of PepsiCo, has embraced eldership through board memberships and mentorship initiatives. Nooyi’s advocacy for purpose-driven leadership and sustainable business practices has inspired emerging leaders and shaped corporate strategies worldwide.

Eldership benefits not only organizations but also society at large. Experienced leaders bring a wealth of perspective, helping businesses navigate ethical dilemmas, foster diversity, and drive innovation responsibly. Their presence can also stabilize turbulent environments, offering reassurance through their seasoned judgment.