How to Find Your Next CEO
by Jennifer Alsever
Tags: Board, Plan, CEO, Candidate, Minow..., Lawless, Corporate Governance, Business Operations, Corporate Law, Succession Planning, BNET Crash Course, Board of Directors, Jennifer Alsever
Almost 1,500 CEOs quit or were fired last year – about six per day on average. Marquee names in the last year included Jerry Yang of Yahoo, Aylwin Lewis of Sears, Steve Jobs of Apple, and Dick Bond of Tyson Foods.
Small wonder, then, why finding a new CEO ranks as a top concern for corporate boards — yet only half of them have a plan in place to find a back-up boss. “This is the single-hardest job a board faces, but it’s the one they fail at the most,” says Nell Minow of The Corporate Library, a research firm focused on corporate governance. Your board doesn’t have to be among those that fail to plan for a smooth transition at the top. Here are the steps your directors can take to create a succession plan that works.
http://www.bnet.com/2403-13056_23-270141.html
