Christine Rivers is a Vice President with Hay Group’s Board Solutions business in Boston, MA, where she partners with boards of directors and senior executives to create sustainable organizations and enhance the effectiveness of the board/CEO relationship. Her clients seek her guidance and coaching on a range of issues related to enhancing organizational effectiveness and optimizing leadership performance. She can be reached at email@example.com or 617-425-4500.
It seems a familiar story these days—a company on rocky ground for a few quarters suddenly finds itself rudderless as the chief executive is let go or departs for greener pastures. In the resulting vacuum, the pressure to make an immediate hire can be intense. But companies are well served to think carefully about whether they truly need a "corporate savior" who can devise and carry out a turnaround strategy in short order, or whether a long-term leader is better suited to lead the company back to market success.
A survey of 300+ CEOs conducted in early May shows declining confidence in business conditions, even as economy reopens in many parts of the country and around the world. But there could be a silver lining.