CEO Succession Planning – The Board’s Most Important Decision
The most crucial decision any board will make is nearly always their choice of Chief Executive Officer. We believe that the board needs to be firmly in the driver’s seat on CEO succession planning- orchestrating a comprehensive CEO succession plan that incorporates insights from every board member and the sitting CEO. We don’t conduct searches –that’s what makes Board Advisor entirely independent when it comes to providing advice on CEO Succession planning.
There are several ways in which we can serve as a resource to your board:
CEO Succession Planning Workshop(s):
We offer individual 90-minute workshops on CEO succession planning suitable for your Board Chair, CEO Succession Committee Chair, Chief Human Resources Officer and/or CEO starting at $1500 US. These include a 15 minute pre-workshop Zoom/call to clarify your objectives and priorities so that we can tailor the session accordingly. We sign confidentiality agreements in advance to facilitate an open discussion during the session. Workshops for the full Succession Committee ($3500US) or full board ($5000US) are also available. For more information see Workshops for Board Leaders.
Emergency CEO Succession Planning:
A robust emergency CEO succession plan can lay the foundations of an effective long-term CEO succession plan, something many boards are reluctant to address when they have a high-performing CEO. For a Case Study (2 pages) that illustrates how our approach to emergency CEO succession planning made all the difference for the board of a Nasdaq-listed biotech: Emergency CEO Succession Planning – More than a Name in an Envelope.
Creating a CEO Succession Roadmap:
We believe the board – not a consultant – should always be in the driver’s seat on CEO succession planning. After all, the choice of CEO is often the single most important decision a board will make. We help boards kick off a well-considered CEO succession process by creating a comprehensive timeline incorporating every step in the CEO succession plan – incorporating the views of all directors and tailored to the company’s unique circumstances.
To learn more about CEO Succession Roadmaps, read our white paper, “Putting the Board in the Driver’s Seat on CEO Succession Planning” (2 pages).