In my work in executive search, it is blessedly rare these days for discussions about leadership or board succession NOT to include the topic of diversity. The frequency and comfort level many corporate leaders now have discussing diversity is something to celebrate in and of itself.
Before a company acquires an expensive new piece of capital equipment, the board will vigorously scrutinize assumptions, payback times and contribution to enterprise value – assigning a net present value. What if this expensive new piece of equipment is the CEO?
Proxy season, with its voting on director slates, shines a bright light on board composition—an aspect of governance that has come under increasing scrutiny from investors, directors and other observers. But the slate is only the end result of a director succession process that has become more and more complex and competitive.
Onboarding is an apt term for how many companies support new leaders’ transitions, because – like helping someone onto a ship – there’s not much more to the process than bringing the executive safely on deck. From there on, he or she is expected to know what to do or sort it out with little or no guidance.
Early exits often arise from disappointment that the outcomes fall well short of what was hoped for, and perhaps promised, at the start. Yet for global companies, the stakes are high, which is why more needs to be done to help new leaders hit the ground running, and accelerate their ability to deliver results.
Our twelfth International Executive Panel on Leaders in Transition reveals Integration Efforts Failing to Meet the Needs of Senior Leaders. Interpersonal and Cultural Issues are among the Top Challenges in Assuming New Roles.