

An internal candidate may be your best choice, but make sure you evaluate the individual carefully. Faced with a CEO succession, many corporate directors hope an internal change agent will emerge as a viable candidate for the role. What specifically are boards looking for in these internal candidates? Our experience with CEO succession over the last several years tells us that four priorities increasingly rise to the top:
Go beyond the stats and accentuate the qualities that make you an ideal director.
Reliable ERM processes and metrics are essential for protecting companies from excess risk. Earlier this year, I served on the faculty for the 27th Annual Stanford Directors’ College. The program brought together CEOs, public company directors, investors, regulators and scholars to examine a broad range of corporate governance, risk management, macroeconomy, geopolitical and technology topics. A common theme was board oversight of strategy and disruptive risks, including the following key trends:
A robust, thorough onboarding will set new directors up to provide value quickly. Experienced board members may recall the common wisdom from prior decades: New directors should not speak during their first year on the board. Fortunately, this advice has gone the way of other outdated advice, such as recommendations to limit the search for new board members to one’s golf club, don’t ask about talent below the C-suite and limit discussions of strategy to the annual off-site.
Communication, coordination and connection are key to employees thriving away from the office.
Directors & Boards Magazine—2020 Annual Report
Directors & Boards Magazine—2020 Fourth Quarter
Directors & Boards Magazine—2020 Third Quarter
Directors & Boards Magazine—2020 Second Quarter
Title | Article Sound Track | Audio Sound Duration | ID |
---|---|---|---|
The Future of Talent | /sites/default/files/2022-12/FutureTalent.mp3 | 19:41 | nid=34022=nid |
If You Haven’t Been a CEO, Can You Hire a CEO? | /sites/default/files/2022-12/HireaCEO.mp3 | 12:48 | nid=34020=nid |
Do You Already Know Your Next CEO? | /sites/default/files/2022-12/NextCEO.mp3 | 08:45 | nid=34018=nid |
How to Achieve Boardroom Diversity | /sites/default/files/2022-12/BoardroomDiversity%20%281%29.mp3 | 19:42 | nid=34011=nid |
Onboarding the First-Time Director | /sites/default/files/2022-12/Onboarding.mp3 | 08:58 | nid=34015=nid |
Hybrid Workplace Success Requires the Right Culture | /sites/default/files/2022-12/HybridWorkplace.mp3 | 08:04 | nid=34014=nid |
Human Capital? Talent? How About Treating Employees as People? | /sites/default/files/2022-12/HumanCapital%20%281%29.mp3 | 04:54 | nid=34013=nid |
Duty of Oversight in Disruptive Times | /sites/default/files/2022-12/DutyofOversight.mp3 | 13:38 | nid=34012=nid |
Establish a Formal Process for the Board’s CEO Oversight | /sites/default/files/2022-12/CEOOversight.mp3 | 05:54 | nid=34004=nid |
Self-Reliance | /sites/default/files/2022-12/SelfReliance.mp3 | 04:23 | nid=34001=nid |
Reflections on Corporate Wrongdoing | /sites/default/files/2022-12/CorporateWrongdoing.mp3 | 04:06 | nid=34000=nid |
Flexible Schedules Are a Must, Not a Perk | /sites/default/files/2022-12/FlexSchedules.mp3 | 05:19 | nid=33999=nid |
The Conscious Workplace: Fortify Your Culture to Thrive in Any Crisis | /sites/default/files/2022-12/Conscious.mp3 | 03:54 | nid=34002=nid |
My Board Journey: Lisa Greer Quateman | /sites/default/files/2022-12/MyBoardJourneyQuateman.mp3 | 05:30 | nid=34003=nid |
Director Reflections on Talent | /sites/default/files/2022-12/DirectorReflectionsonTalent.mp3 | 02:45 | nid=34021=nid |
Director Reflections on Talent | /sites/default/files/2022-12/DROTBrooke.mp3 | 01:10 | nid=34016=nid |
CEOs and Boards Are Putting Succession Plans to the Test | /sites/default/files/2022-12/SuccessionPlans.mp3 | 04:05 | nid=34019=nid |
Diverse Directors Help Companies Better Reflect Their Client Base | /sites/default/files/2022-12/DiverseDirectors_0.mp3 | 01:09 | nid=34006=nid |
Diversity Rules Work (If You Follow Them) | /sites/default/files/2022-12/DiversityRules.mp3 | 05:55 | nid=34007=nid |
Eight CEO Succession Planning Questions Boards Should Ask | /sites/default/files/2022-12/8SuccessionQuestions.mp3 | 08:13 | nid=34005=nid |
Modern Governance Requires Anti-Racist Leadership | /sites/default/files/2022-12/AntiRacist.mp3 | 04:45 | nid=34008=nid |
Stewardship and the Evolution of Holistic Governance | /sites/default/files/2022-12/Stewardship.mp3 | 10:44 | nid=34010=nid |
Women: Defy the Myths That Keep You From the Boardroom | /sites/default/files/2022-12/WomenMyths.mp3 | 08:01 | nid=34017=nid |