Sooner or later, every corporation will face disruption. It may be the result of a decrease in its competitive advantage, a shift in the regulatory environment, or some catastrophic event that affects its ability to operate. No matter what the underlying cause, the chief executive is the person most accountable for managing the disruption. He or she must recognize its dynamics, anticipate its likely effect, develop a response, manage that response, and sustain the necessary changes. If the CEO is not directly involved in guiding his or her company through the storm, the entire company is likely to suffer—and, in extreme cases, disappear entirely.