The Next CEO
Every year, companies spend billions of dollars in board time and headhunter fees on CEO searches. In fact, by many accounts, the selection of the next CEO is the single most important task of the board of directors. Yet, despite the huge amount of time, money, and attention given to the task, many CEO changes fail, with disastrous consequences for all concerned. With so much at stake, it is natural to ask what companies and their boards can do to increase the odds of success. This was the starting point of our work on CEO succession that led to a ten-year research project and has taken us on a global journey through the boardrooms of some of the world’s leading companies. The outcome of this journey is The Next CEO, a book that captures what we learned in practical tools and frameworks Illustrated with an abundance of real-life examples from interviews with CEOs, C-suite members, members of the boards, and headhunters supporting CEO searches.
The Next CEO explains how boards can improve the odds of success with CEO succession by identifying clear CEO mandates and associated CEO profiles and by selecting CEOs that are fit for purpose. To do so we introduce four distinct mandates as well as the CEO profiles that best fit these mandates.
A second key insight from our research relates to the importance of how new CEOs manage the transition into the position and kick off and drive the mandate. The Next CEO therefore explains how the CEOs of leading corporations effectively take charge and create results, providing a roadmap for incoming CEOs.
CEO tenures, if successful, often span more than one mandate and CEOs and the boards hiring them need to think strategically about their time in the role and what may follow. To support this process, The Next CEO introduces a set of ideas that helps CEOs and Boards to look beyond the current mandate and prepare for the long-term by thinking about their next act.
These ideas are brought to life with case studies and interviews with well-known corporations such as ABB, Alibaba, Freudenberg, GE, Google, HNA, HP, Microsoft, Nestle, Nike, Nokia, Novartis, Roche, Sony, Tata, and Zurich Insurance.
The Next CEO is a practical book written for those involved in CEO succession either now or in the future. It provides practical reading for board members of medium-to-large-size fi rms involved with CEO succession, and for those preparing for their first CEO position. It is also relevant to headhunters who are involved in the process of CEO succession as a working tool for them and their clients. Finally, the book will be relevant to courses on corporate governance and strategic transformation at the executive and MBA levels.
What Readers Are Saying
The book is invaluable practical reading for board members of medium-to-large-size firms involved with CEO succession, and for those preparing for their first CEO position.
It is also relevant to headhunters who are involved in the process of CEO succession as a working tool for them and their clients. In addition, the book will be relevant to courses on corporate governance and strategic transformation at the executive and MBA levels.
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