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Finanz und Wirtschaft – Hiring Top Executive Team is Balancing Act for Board, not CEO
When CEOs start giving top management jobs to their buddies, investors need to sit up and pay attention, reports the Swiss financial bi-weekly Finanz und Wirtschaft. “The impression of cronyism or a protected power base may even provoke defensive reactions from other staff,” warns Egon Zehnder’s Philippe Hertig. But although some CEO’s are still hiring former colleagues, Hertig sees the overall trend as moving in the opposite direction. “It is the Board of Directors that is primarily responsible for ensuring that its company is managed by an appropriately qualified and balanced executive team," he notes.
Full story: Claudia Lanz-Carl: “Das Machtzentrum des CEO” (“The Power Center of the CEO” published in Finanz und Wirtschaft (17 August 2017).