Imagine if, overnight, your CEO left the organization, how would your organization ensure continued success going forward? What about the other critical roles on your team, how would you manage with the loss of their experience and knowledge? It’s a frightening thought for most business leaders which is why organizations are taking a more proactive approach to succession planning.
Boards are as diverse as the organizations they serve. However, there are a number of common challenges boards face including an evolving regulatory environment, increasing role complexity and rising demands for transparency and social responsibility. As the expectations of boards increase, so too does the importance of ensuring that your board is up to the challenge. In our experience, there are six critical steps to building an exemplary board for today’s challenging board rooms.
Insights for enhancing CEO succession through a stronger board leadership
By: Courtney Pratt, Chairman, Knightsbridge Human Capital Solutions and Audra August, Principal, CEO Succession & Advisory Services