[1] A key factor contributing to the success or failure of any CEO transition is the board’s level of engagement with the CEO after the hiring decision is made. Surprisingly, while many board members are typically highly involved in the CEO selection process, research indicates that most board members often underinvest time spent with the new CEO. Operating Model: The company’s operations may need to evolve to support the company’s growth strategy. The board should keep in mind that CEO selection does not guarantee board alignment on priorities and direction. Therefore, it is critical the board know where alignment and misalignment exist and the potential impact to the overall CEO leadership transition plan.

Source: Forbes October 15, 2024 15:59 UTC