Inside CEO Succession : The Essential Guide to Leadership Transition.
Title:
Inside CEO Succession : The Essential Guide to Leadership Transition.
Author:
Winum, Paul.
ISBN:
9781118218013
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (255 pages)
Contents:
Inside CEO Succession: The Essential Guide to Leadership Transition -- Contents -- Acknowledgments -- Foreword -- Introduction -- Part I: Why CEO Succession Is More Critical than Ever -- Chapter 1: From Checkers to 3-D Chess -- A Simple, More Predictable World -- Capture the King -- Decline in Confidence at the Top -- 3-D Chess: More Levels of Play-Less Certainty of Outcome -- Far More Than the Transitioning of the Top Leader -- Chapter 2: Success or Failure-Th e Cause and Cost -- A Reoccurring Pattern -- Focusing on the Symptoms -- Pinpointing the Cause and Cost -- The Benefits of Success -- MasterCard -- McCormick -- IBM -- Johnson & Johnson -- McDonald's -- The Cost of Failure -- HP -- Bank of America -- Newell Rubbermaid -- Boeing -- What Lies Beneath the Surface -- Chapter 3: Whose Job Is It, Anyway? -- Best Practice versus Real Practice -- A Force Behind the Inertia -- Ineffective in Their Most Critical Role -- Awareness of the Risks -- Changing Times, Changing Minds -- Directors Share the Factors that Contribute to Success -- Insisting it be an Active, Not Passive, Undertaking -- Frequent and Candid Review of the Candidates -- Working Th rough the Emotions -- Keeping Options Open Until the End -- Letting the Process Provide the Answers -- Allowing Adequate Time to Change Direction -- Making Sure the CEO is not Picking a Clone -- Insisting on Continuous Formal and Informal Contact -- Signaling to the Company the Culture that you Value -- Embracing the Third Rail -- Chapter 4: RHR's Essential Point of View -- Assumptions that Guide Our Perspective -- Selecting the CEO is the Board's Most Critical Responsibility, Necessarily Executed in Partnership with the Incumbent CEO -- CEO Succession is a Vital Event in an Organization's History and is Always Disruptive -- Psychological Forces will Affect Every CEO Succession.
How the Process is Managed will Affect the Reputation of the Company and the Board -- The Net Results of the Selection Decision will Not be Fully Determined for Several Years -- Our 10 Key Dimensions -- 1. Establish Board Ownership, Involvement, and Oversight -- 2. Set Succession Time frames -- 3. Prepare for Emergencies -- 4. Align on Strategy and Profile -- 5. Build the Talent Pipeline -- 6. Source External Talent and Manage Search Firms -- 7. Select the CEO -- 8. Proactively Manage the Transition -- 9. Measure Performance and Improve Process -- 10. Managing the Dynamics in CEO Succession -- Learning from History -- Part II: The 10 Key Dimensions of Effective Succession -- Chapter 5: Establish Board Ownership, Involvement, and Oversight -- A Deeper Current of Understanding -- Living with the Choice -- Restraint of Power -- It Goes Beyond Charter -- An Integrated Leadership Development Plan -- Continuous Development and Appraisal -- A Partnership Built on Trust -- Skillful Navigation -- The Role of the Lead Director -- One of the More Sensitive Issues -- The Art of Preemptive Communication -- A Lesson from Apple -- Oversight of Management and of Self -- Chapter 6: Set Succession Time Frames -- The Consideration of Timing as a Best Practice -- Creating the Leader Profile -- Sequencing the Succession Process -- Working Back -- Being Prepared -- Need-Based Versus Time-Based -- A Noble Decision -- Balancing Timing and Stakeholder Interests -- Discussing Timelines with the CEO -- Concurrent Succession Decisions -- Chapter 7: Prepare for Emergencies -- Calm or Crisis? -- At Its Most Vulnerable -- Compounding the Emergency -- HP's déjà vu -- Aligned on Purpose -- A Name Is Not a Plan -- Strategic Development Culture -- Working through the Emergency -- Crisis Strikes! -- Communicating Calm and Confidence -- Minimizing the Causes.
Disclosing Health-Related Issues -- Better Upfront Vetting -- Discussing the Future -- Chapter 8: Align on Strategy and Profile -- In the Absence of Strategy -- No Previous Experience Required -- An Uncertain Future -- From Complacence to Consensus -- Continuously Aligned with Management -- Differing Visions of the Future -- Agree to Disagree -- The Critical Role of the Lead Director-Facilitating Consensus -- Aligned on the Leader Profile -- Getting from Here to There- The Culture Imperative -- Chapter 9: Build the Talent Pipeline -- It's More than Talent -- What Constitutes Success -- Moments of Truth -- Making the Difficult Decisions -- Creating Teachable Moments -- Cultures of Development -- Guiding Values -- Experiential Learning -- Chapter 10: Source External Talent and Manage Search Firms -- The Outsider Advantage -- Outsiders Challenge Organizational Hierarchies -- Outsiders View Problems Unemotionally -- The Role of the Search Firm -- Conflicting Interests -- External Pipelining -- Seeding the Pipeline -- Mentoring the Mavericks -- Chapter 11: Select the CEO -- Preparing for the Most Important Decision -- The Winning Formula -- The Interview Protocol -- Cautionary Note on Comparative Tests -- Unearthing the Best References -- Customized Reference Checking -- Once the Selection Is Made -- Chapter 12: Proactively Manage the Transition -- Stage 1: Transitioning the Organization -- Managing the Dynamics between the Outgoing and Incoming CEOs -- Retaining Top Talent -- Proactive Communications Plan -- Stage 2: Integrating the New CEO -- The Critical First Three Months -- When the Honeymoon Is Over -- An Interrelated Process -- An Opportunity to Demonstrate Strength and Resolve -- Chapter 13: Measure Performance and Improve Process -- Measuring the Performance of the New CEO -- Taking Stock in the Critical First Year.
Using The Winning Formula for Measuring Performance -- Improving the Succession Planning Process -- Assessing the Pros and Cons -- Safeguarding Business Continuity -- Beyond the Checklist -- Chapter 14: Manage the Dynamics in CEO Succession -- Epilogue: Perspectives on the Future -- Five Perspectives on the Future of CEO Succession Planning -- The Accelerating Need for Knowledge Retention and Sharing -- The Nature and Role of the Twenty-First Century CEO -- Systematizing the Transition of Leadership -- The Pursuit of Gender Balance for Competitive Advantage -- The Cultural Rotation of Top Leadership -- Appendix: Ten Questions a Director Should Ask -- About RHR International -- References -- Index.
Abstract:
A comprehensive guide to planning for CEO succession, from the experts at RHR As the demands from stakeholders for consummate leadership and good governance from a company's board of directors, its CEO, and its executive team increase, how the process of CEO succession is carried out has become more critical than ever before. Yet, over the past several years, a growing number of CEOs have failed early in their terms, often with devastating consequences to their companies and stockholders. By far the most common problem is a lack of ownership of the CEO succession process. Inside CEO Succession provides businesses, leaders, and boards with the strategies they need to execute their responsibilities with a heightened level of professionalism and ensure the sustained success of the companies they serve. Written by Dr. Thomas J. Saporito, CEO of RHR International, and Dr. Paul Winum, Senior Partner of RHR International, the lessons of Inside CEO Succession are rooted in RHR's long-standing history of bringing expert knowledge, experience, advice, and counsel to the issues related to CEO succession. The culmination of RHR's 65 years of experience providing expert counsel to the boards of directors of hundreds of companies, it explains how ego, role-relationships, power, and human dynamics associated with relinquishing leadership, preparing successors, and ceding power and authority to other people create undetected problems in the succession process and ultimately cause many CEOs to fail early in their tenures. Distills RHR's 65 years of experience helping businesses deal with CEO succession into one practical resource Presents strategies to enable boards to understand their role in succession planning and how to source leadership that best fits their organization's culture and requirements Brings together business acumen and psychological insight to
help readers better prepare for more effective CEO succession To be successful, CEO succession requires a well-defined course of action that ensures that a number of highly capable candidates are ready to assume the chief executive position whether through an unexpected event or a planned transition. Inside CEO Succession is designed to help boards comprehensively manage that process and effectively sustain their company's profitability.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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