This video series tackles the critical issue of CEO succession: where Boards and leaders most often go astray, and how to increase the odds of success.
CEO succession is on the front burner now more than ever – and harder to get right. Even before the pandemic, the failure rate of new CEO hires was increasing and costing millions. The strain of the last 2 years has been grueling, and the need to pivot some businesses for the future will require different leadership. We saw many CEOs delay transition throughout the pandemic even though they were slated to retire in order to maintain stability at the company during complete disruption. As we head into 2022, we anticipate an acceleration in transitions, at a time when the stakes are higher than ever.
In this actionable 5 episode video series, Judy Warner, formerly editor-in-chief of NACD Directorship magazine and NACD's Board Talk blog, interviews BTS CEO succession experts Sarah Woods and Joe Andrews, to tap into their insights on the Five Reasons Why CEO Succession Fails, and How to Get It Right:
Challenge #1: Overlooking the Question of Character
Challenge #2: Further Dependence on the Wrong Criteria
Challenge #3: Failure to Develop Internal Candidates
Challenge #4: Believing Placement is the End Zone
Challenge #5: Ignoring the Importance of Transparency in the Process
Read Sarah and Joe’s original blog post on the NACD website: Five Reasons Why CEO Succession Fails, and How to Get It Right