Every year, companies spend billions of dollars in board time and headhunter fees on CEO searches. In fact, by many accounts, the selection of the next CEO is the single most important task of the board of directors. Yet, despite the huge amount of time, money, and attention given to the task, many CEO changes fail, with disastrous consequences for all concerned.
With so much at stake, it is natural to ask what companies and their boards can do to increase the odds of success. Illustrated with an abundance of real-life examples from interviews with CEOs, C-suite members, members of the boards, and headhunters supporting CEO searches, The Next CEO explains how boards can improve the odds of success with CEO succession by identifying clear CEO mandates and associated CEO profiles and by selecting CEOs that are fi t for purpose. It further explains how the CEOs of leading corporations effectively take charge and create results, providing a roadmap for incoming CEOs. These ideas are brought to life with case studies and interviews with well-known corporations such as ABB, Alibaba, Freudenberg, GE, Google, HNA, HP, Microsoft, Nestle, Nike, Nokia, Novartis, Roche, Sony, Tata, and Zurich Insurance.
The book is invaluable practical reading for board members of medium-to-large-size fi rms involved with CEO succession, and for those preparing for their fi rst CEO position. It is also relevant to headhunters who are involved in the process of CEO succession as a working tool for them and their clients. In addition, the book will be relevant to courses on corporate governance and strategic transformation at the executive and MBA levels.
Thomas Keil is a professor at the University of Zurich, Switzerland, where he teaches strategy and international management.
Marianna Zangrillo is a corporate leader, business angel, and investor, with experience in companies such as Nokia, Kemira, Swissport, and Infront Sports.
PART I: Boards Defining The Mandate And Profile For A New CEO
1. Preparing For CEO Selection
2. Continuation: More Of The Same
3. Evolution: Adaptation Within Boundaries
4. Transformation: Bringing The Organization To The Next Level
5. Turnaround: Breaking With The Past Under Pressure
PART II: The Work Of A New CEO
6. Mastering The Strategic Mandate
7. Taking Charge
8. Building A Personal Platform
9. Driving Results
PART III: The Next Act
10. The Lifecycle Of A CEO
11. Sustaining The Succession Pipeline
12. The CEO Of 2030