Financial Services

Newcomer CEOs have just weeks to lay the foundation for the rest of their term in office, agree experts. Yet despite the effort that goes into finding and recruiting the right candidate, freshly appointed leaders often get little support from supervisory boards during their first 3-months on the job. To help firms and top executives boost their performance during this crucial transition period, Egon Zehnder International conducted a worldwide survey to review "The First Three Months as CEO.” The survey, which focused on the financial services sector, had an international coverage of successful top leaders already in office for two years on average.

Surprisingly, the survey revealed that very few respondents drew up an “outside-in” plan of action for their first week. None of the CEOs surveyed received any kind of road map or induction program to help them settle into their new position either. In retrospect, most of the CEOs wished they had initially devoted more time to their company's top management and improving communications with the chairman and board. The survey’s findings should help CEOs to be more effective during their first three months in office and enjoy even greater success in the future.