Demands and challenges facing the nonprofit chief executive officer (CEO) are at least as substantial as their compensation and perquisites. Although it is assumed that the CEO must engage in extensive and continued learning in order to meet these demands and challenges, we know little about their actual learning experiences. Thus, a qualitative research study of the learning experiences of 12 CEOs of nonprofit organizations was conducted, using Mezirow's theory of adult learning as an analytical frame. A dominant theme in the CEOs' learning experiences concerned learning about the power dynamics which they perceived as pervasive in the CEO context. The CEOs also described how the power dynamics impacted the way they learned, making dialogue difficult and requiring greater reliance on private reflection.