Fireside chats can generally yield surprising depth and insights. When the chat leader is a CEO and the audience includes high-potential leaders at an executive training retreat, it can be doubly poignant and powerful. Fireside chats afford a crucible for candor and a forum for authenticity. Ten years ago, I was a trainer at the retreat and a guest at the after-dinner fireside chat.

“What are the most crucial qualities of a great leader?” was the question an armchair participant shot point bla...