Perhaps no single factor has a greater impact on a company’s future — for better or worse — than the selection of a new CEO. Choosing a CEO is a high-stakes proposition, arguably the most important decision a board can make. While some situations demand outside successors — such as a turnaround or a discontinuous shift in the industry and strategy – we believe that internal candidates remain the future CEOs-of-choice.
Key Takeaways:
- Few people have more experience with CEO successions than Ram Charan. For more than three decades, Charan has been involved in CEO searches in the United States, China, Japan, India, Brazil, and Europe, as a director, an adviser, or a member of the selection committee.
- Charan recently shared best practices on CEO selections in an article for HBR, The Secrets of Great CEO Selection.
- People spend their entire careers preparing for this job, but until you are in the saddle, you really don’t know how well prepared you are for the task at hand.
“Charan has been involved in CEO searches in the United States, China, Japan, India, Brazil, and Europe, as a director, an adviser, or a member of the selection committee. The Secrets of Great CEO Selection. In a telephone interview, edited and condensed below, Charan shared how the succession process doesn’t end the moment a new chief executive is appointed.”
http://www.ceo.com/operations/how-boards-can-set-up-a-new-ceo-for-success/
