Heidrick & Struggles: CEO Succession In Turbulent Times
In the current environment of rapid change, CEO succession planning has become more challenging for boards. CEO succession planning today requires ongoing analysis of how a company’s competitive landscape will change and what type of leader will be required to navigate the change. It requires ensuring that the current leadership team embraces change and is continually learning.
For both internal and external searches, there are several trends linking succession issues and strategic issues that are highlighted in the recently launched report and that particularly resonate with observations from our own extensive work with boards and CEOs:
- With CEO tenure at a high, many CEOs will be leaving, leading to heightened competition for the best candidates.
- Cultural considerations and softer skills are increasingly integral.
- Creating diverse leaders and teams is still a priority despite a recent decline.