Record display: "CEO Succession 2008: Stability in the Storm"
Booze & Company, Strategy+Business
Publish Date:
March 11, 2009
Author(s):
Karlsson, Per-Ola; Neilson, Gary
Note From Jim: This report offers great insight into (1) Current trends and turnover rates in CEO succession (2) Demographics, functional career paths, and educational backgrounds of incoming and outgoing CEO's (3) The progression of separating CEO and Chairman roles (4) Seven action steps for incoming CEO's and (5) Important considerations for developing new leaders. I strongly encourage a read of this report.
Excerpts:
Seven Actions for the New CEO
1. Declare a new day.
2. Establish priorities.
3. Affirm or change the team
4. Establish boundaries
5. Keep an ear to the market.
6. Get to know the unknown.
7. Engage the board
Abstract:
Facing the worst economic crisis since the Great Depression, corporate boards in North America and Europe are holding fast to their current CEOs, finds management consulting firm Booz & Company in its 2008 annual survey of CEO turnover. The decline in succession rates in these two regions contrasts with the slight rise in chief executive departures globally. The financial services and energy sectors, most affected by the turmoil of 2008, saw outsized increases in CEO exits spurred not only by performance, but also by government interventions and volatility in commodity markets, respectively.
Related Industries:
Aerospace, Automotive, Chemicals, Consumer Products, Energy & Utilities, Financial Services, Government Departments & Ministries, Health, Industrials, Media & Entertainment, Natural Resources, NGOs, Nonprofits & Associations, Oil & Gas, Private Equity, Retail, Technology, Telecommunications, Transportation
Related Capabilities:
Strategy & Leadership"
Download PDF: http://www.booz.com/media/uploads/CEO_Succession_2008.pdf
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
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