It is a CEO’s critical responsibility to drive organizational performance through a high-performing leadership team, not only through managing and leading the team, but also through carefully, deliberately choosing the best individual leaders.
Always tricky, leadership transitions get even tougher when a CEO departs the world along with the job.
The four ways CEOs leave office dictate how succession can be smoothed.
The early deaths of the CEOs of Nintendo and SurveyMonkey serve as yet another reminder to boards that succession planning for the corner office is one of a board's most important responsibilities.
Companies that do not plan their CEO successions face greater chances for forced CEO turnovers, which translates into $1.8 billion in lost shareholder value, according to Strategy&.
Recent media headlines are shining a spotlight on what seems to be a growing trend over the past few months—that of top leaders suddenly departing their companies. In some cases, we’ve seen a graceful stepping down; in others, sparks have flown between the board of directors and the CEO. Whether the stated reasoning was declining profits, inability to innovate, lack of product strategy or poorly focused investments, each case has a lesson to teach fellow CEOs and company boards about working together, managing expectations and planning succession.
Family businesses face unique challenges when transitioning from one generation to the next. The struggle to protect family and business interests requires a thoughtful strategy, and succession is even more difficult if there is no clear candidate to lead the business.
As the saying goes, “the best laid plans of mice and men often go awry.” In the case of succession, an unexpected CEO vacancy can throw even a healthy organization into disarray.
People set strategy. Directors and executives who know where the company should be going will be best equipped to get it there.
The first month of the new year saw the highest turnover among chief executive officers since the previous January as 113 CEOs left their posts during the month. The January total is up 9.7 percent over December when 103 CEOs departures were announced, according to the latest report on CEO turnover released from global outplacement firm Challenger, Gray & Christmas.