In recent years oil and gas companies have applied innovative technologies to make discoveries of vast new hydrocarbon resources. If only it were that easy for them to deal with a dire challenge above ground: identifying and training a new generation of qualified and prepared executives who are ready and willing to lead oil and gas companies at this pivotal time in the industry’s history.
Cyclical market volatility will continue to be standard in the energy industry. An impending market rebound has many feeling cautiously optimistic, but the extended cycle of the current downturn — now being characterized as “lower for longer” — has revealed a new reality in the energy sector that will change leadership imperatives for the foreseeable future.
The challenges posed by the epic turbulence in the price of oil will highlight how effective the boards of directors of different companies are in providing meaningful guidance and counsel to their CEOs.
Following a five-year boom, the oil industry is experiencing a downturn due to falling prices at the pump. Steven Goodman, who leads Egon Zehnder’s Energy practice, says executives at oil companies can take advantage of this time to strengthen and enhance their core leadership teams.
The market turbulence, high levels of M&A activity, and the ongoing challenges of public dialogue are testing the mettle of energy industry chairmen and chief executives who must chart a course forward and maintain high performance during uncertain times. To see how industry leaders are grappling with this task, Egon Zehnder convened a panel discussion on energy leadership at CERAWeek 2015, the industry’s premiere annual gathering. Here is what we heard.
Can outstanding, professional people decisions help companies in the chemical industry rise to the challenges that lie ahead and add real value? What are these industry challenges and what exactly does “Talent Management” mean?
While the energy sector is right to focus on “the big crew change” – the race to replace broad swaths of its aging workforce – an equally compelling challenge looms in the executive suite.
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