Selecting the new CEO is one of the board's three most crucial
tasks, matched only by a decision to merge or sell the company, or the selection of a new chairman. Yet this 'bet the company' decision is still often tackled too late. To help boards address this important topic, this article from Heidrick & Struggles sets out the seven steps required for addressing a specific foreseeable succession need, and concludes with brief suggestions for longer-range planning.
Uncertainty at the top of a company is never a good thing. Increasing scrutiny around how boards operate, calls for greater transparency and consequently the increasing importance of the chairman’s role creates a strong case for succession planning.
A new paradigm in board-building has changed the way boards use search firms.
To meet this complex new responsibility, boards should consider a relatively new kind of board member—a current or former CIO.
Despite a professed demand from corporate boards, women directors remain in short supply.
This article answers questions about Chief Executive Officer (CEO) succession. The article details findings from database queries of executive pay practices at Fortune 500 companies.
Companies have gotten the message on board diversity…but the numbers have not yet caught up. This report examines diversity among the top 200 companies in the S&P 500. Specifically, Spencer Stuart looked at women and minority directors representation on the boards and women and minorities among top executives, since that group represents a significant portion of the board director candidate pool.
This report explores issue explores questions and issues related to the rold of the lead or presiding director, based on Spencer Stuart's analysis of 2005 proxy data for the S&P 500 companies, survey of 68 lead or presiding directors and nearly 150 corporate secretaries, and interviews with approximately a half dozen independent directors, most of whom currently serve as lead or presiding directors.
In a speech on “21st Century Governance for Early-Stage Companies,” Southwest Airlines chairman Herb Kelleher described how he assembled his first board to be reassuring to potential stakeholders, and how the board evolved through the years to respond to the growth and changing conditions of the industry. His advice is to choose directors who will challenge the CEO and each other.
Corporate Board Member's President interviews boardroom movers and shakers. William T. Allen, director of New York University's Center for Law & Business, discusses directors' responsibilities for CEO's succession and offers insight on emerging trends for corporate boards.
Corporate Board Member's CEO interviews boardroom movers and shakers. Theodore L. Dysart, managing partner of the Americas, Global Board of Directors Practice, Heidrick & Struggles, talks about emerging trends for recruiting corporate directors.
