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The Globe and Mail – Five Steps to Selecting a Better CEO
Growing volatility in the business environment has turned chief executive officer selection and succession planning into key board responsibilities, write Egon Zehnder consultants Pam Warren and Kim Van Der Zon in The Globe and Mail. “Even in atypical transition scenarios, boards should expect to be challenged on any CEO succession decision – or even cross-examined,” warn the authors. Against this background, they advise boards to adopt practices that will stand up to the harshest scrutiny. Drawing on their experience, the authors outline five key steps in succession planning: creating a rigorous CEO job specification, identifying internal candidates and setting up tailored leadership development programs, regularly reviewing external CEO talent, planning for emergency and non-emergency succession, and ensuring that independent directors, drive the process, not the current CEO.
Full story: Pam Warren and Kim Van Der Zon: How to Pick a Better CEO in The Globe and Mail