CEO Succession
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A staggering 70 percent of family enterprises fail to pass to the second generation, and 88 percent fail to make it to the third. Too many family matriarchs and patriarchs refuse to answer the question “who comes after me?”—ignoring the reality of their own mortality, or falling into the delusion that they’re the only possible…
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CEO succession is a board’s most important responsibility. This is especially true today, as companies face a range of intense pressures, the reality of decreasing leadership preparedness across a wide range of rapidly-evolving business challenges, record CEO turnover, and nuanced governance trends—such as an anticipated increase of shareholder activism (particularly in the United States) and…
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More and Better Options: How Boards Can Strengthen Long-term CEO Succession Pipelines [Russell Reynolds Associates]
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1 min read
CEO succession is a board’s most important responsibility. This is especially true today, as companies face a range of intense pressures, the reality of decreasing leadership preparedness across a wide range of rapidly-evolving business challenges, record CEO turnover, and nuanced governance trends – such as an anticipated increase of shareholder activism (particularly in the United…
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In today’s rapidly shifting business landscape, boards are simultaneously learning to navigate through unprecedented complexities while facing expectations to deliver sound advice for sustainable growth. Boards are under a range of intense pressures (Figure 1), including understanding cybersecurity and data privacy implications (66% of board directors identify this as a top three operational risk concern),…
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Faced with a CEO succession, many corporate directors hope an internal change agent will emerge as a viable candidate for the role. What specifically are boards looking for in these internal candidates? Our experience with CEO succession over the last several years tells us that four priorities increasingly rise to the top: The ability to…