Sample
Client Issue:
Assessing
Potential CEO Successors
A strong and capable Board was divided regarding the appropriateness of the most probable successor to its CEO, who was two years from retirement. Despite the openness of Board governance processes and working relationships with the CEO, the Board sought outside help for an objective evaluation of the top management team to assess several potential candidates before looking to outside recruitment.
A large retail corporation needed to accelerate the readiness
of a senior merchant to advance two levels in the organization,
to the position of corporate CEO, within two years. An assessment
of his capabilities against the Board's succession criteria
identified that his basic leadership capabilities were strong.
The priorities for his development included evolving to a manager
of multiple businesses, learning and assuming responsibility for
corporate functions, developing his own merchandising successor,
and becoming immersed in long-lead-time corporate activities
including strategic planning, budgeting, new ventures interaction,
and interaction with the financial commmunity. The plan developed
by Corlund in conjunction with the client's executives defined
activities, responsibilities, and timeframes that allowed the
candidate to meet the requirements almost a year earlier than
anticipated. A comparable approach was later applied to successfully
transition a successor to allow the retirement of the President of
the largest operating division.
Related Client
Issue:
CEO
Succession
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