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High-value companies have boards that are aligned with the organization’s strategy and help accelerate performance.
Boards that routinely evaluate their capabilities with strategic goals in mind and establish a diverse pipeline of potential directors will be best positioned to help their organizations reset for resilience and thrive in the long term.
CEO succession should be an ongoing part of boards’ work—but boards also need to understand how considerations shift as change gets closer.
Strategic Partner of the 2020 World Economic Forum
When boards are faced with the crucial decision of selecting the next CEO, those that have started early and follow a rigorous process will have the best chance of finding the right leader.
For directors, an understanding of leadership styles can enrich judgments and discussions about CEO performance, CEO candidates, and the kind of leadership needed in specific business situations.
In its latest annual analysis, The Conference Board, in collaboration with Heidrick & Struggles, tracks key trends in CEO succession practices at S&P 500 companies.
The key is creating a culture where people are optimistic in the face of challenge, regularly seek to improve, and embrace the opportunities for reinvention that digital brings.
As the date of a planned CEO succession nears, organization redesign can help make sure that a top internal candidate will be as well prepared as possible to make the demanding leap to the top job.
Our work with leaders and organizations throughout the world has enabled us to identify a small handful of must-have qualities: empathy, business judgment, self-awareness, adaptability, integrity, passion, and courage. Based on our experience, a leader with these core attributes has a remarkably higher probability of success, regardless of what context they are thrown into.
An overwhelming majority of boards select an internal candidate as their next CEO. Over 80% of the Fortune 1000 companies who named a new chief executive last year promoted a successor from within the company (Heidrick & Struggles F1000 CEO Turnover Data). The National Association of Corporate Directors found in its 2013-2014 NACD Public Company Governance Survey that executive talent management a
Despite the barrels of ink and numberless bytes that have been expended on CEO succession planning advice, many directors remain dissatisfied with the process.