Of the 50 most value-creating roles in any given organization, only 10 percent normally report to the CEO directly. Sixty percent are two levels below, and 10 percent sit farther down. Most surprising of all is that the remaining 10 percent are roles that don’t even exist. Once these roles are identified, the CEO can work with other executives to see that these roles are … [ Read more ]
Content: Quotation | Authors: Carolyn Dewar, Martin Hirt, Scott Keller | Source: McKinsey Quarterly | Subjects: Corporate Governance, Human Resources, Organizational Behavior, Succession Planning
Research shows what happens to succession winners and losers.
Content: Article | Authors: Shana Lynch, Tricia Seibold | Source: Stanford University | Subjects: Corporate Governance, Succession Planning
It’s probably just a replacement plan. Here’s how to create an effective succession plan — one that makes your company stronger. A Q&A with Randall Beck, Gallup Managing Partner and expert on succession planning.
Content: Article | Author: Randall J. Beck | Source: Gallup Management Journal | Subjects: Corporate Governance, Human Resources, Management, Succession Planning
Developing a [succession] plan in advance gives you time to react and develop more leaders. Take the CEO position, for example. You might identify three viable candidates, which is a good rule of thumb for filling any key role. But during the succession planning process, you might discover that none of the three candidates you’ve identified are ready for the role. You can then speed … [ Read more ]
Content: Quotation | Author: Randall J. Beck | Source: Gallup Management Journal | Subjects: Corporate Governance, Human Resources, Succession Planning
Business leaders who achieve extraordinary short-term financial gains for their companies often become celebrities. But how does a company secure long-term value for their shareholders, and how does this correlate with CEO leadership? More specifically, what do we know about the importance of effective succession management?
Content: Article | Authors: Chip Snively, Fred G. Steingraber, Richard Magjuka | Source: A.T. Kearney | Subjects: Corporate Governance, Succession Planning
To avoid politics that lurk in the shadows, get the issues out in the open with a disciplined succession process.
Content: Article | Authors: Carlos Rivero, Mark Nadler, Richard Hossack, Steve Krupp | Source: Oliver Wyman | Subjects: Corporate Governance, Succession Planning
What does it take to manage a smooth leadership transition? Chief Executive magazine convened a roundtable to discuss this issue.
Content: Related Content | Subject: Succession Planning
Hiring an outsider masks the hard truth that a company has not developed a pipeline of leaders from among its ranks who can step in and manage the bigger challenges of the day.
Content: Quotation | Source: Ivey Business Journal | Subjects: Human Resources, Succession Planning
Booz Allen Hamilton’s annual study of CEO succession aims to identify patterns in the relationship between chief executive officer tenure and corporate performance that can provide insights for managers, board members, and their advisors. Following the methodology used in previous years, we identified chief executives at the 2,500 largest publicly traded companies in the world (based on market capitalization as of January 1, 2003) who … [ Read more ]
Content: Article | Authors: Charles E. Lucier, Junichi Handa, Rob Schuyt | Source: strategy+business | Subjects: Corporate Governance, Succession Planning
Most bungled successions can be traced to five failings.
First, many incumbents are reluctant to give up power, either hanging on too long or trying to foist like-minded successors onto their boards.
Second, when appointing new leaders, boards often choose a safe replacement, rather than someone who will question the directors’ roles.
Third, swayed by force of personality, boards frequently fail to define or adhere … [ Read more ]
Content: Quotation | Source: Chief Executive | Subjects: Corporate Governance, Succession Planning