Congressional Country Club 8500 River Rd Bethesda, MD 20817
Program Overview: CEO succession is arguably the highest priority and most important duty of a director. A board's selection of the wrong CEO can be a catastrophic mess for a company's future with incredible costs and lost value to shareholders. Getting the company's top leader right is tricky, challenging, and oftentimes controversial.
These issues are more acute in private companies. CEOs who are founders, or private family-run owners, bring very complex dynamics and can create potentially huge and unique board vs. founder/CEO challenges. Public companies may have less of these issues, but they have the additional burden of having to manage regulatory, press, and market factors that all come with huge risks.
Join our September 11, 2019, NACD Capital Area Chapter panel members to actively and insightfully discuss what to do, what not to do, and how to deal with the family-owned and founder syndrome, as well as private equity-owned or publicly traded CEO succession planning and the associated challenges for directors.
Understand leading practices of a strong CEO succession program.
Discover leadership and resources helpful for creating an effective CEO succession program that addresses both planned and unplanned events.
Learn CEO succession differences - public vs. private vs. family-owned companies.
Identify the CEO succession process risks and how to deal with resistance, disruption, tension, emotion, and transition requirements for challenging situations.
Gain tools, techniques, and committee support mechanisms for clearly defining and prioritizing future CEO leadership and skills needs.
Learn how to align talent management/CEO succession with corporate goals, strategic initiatives, and long-term planning.
See how to win boardroom battles if the company's future is at serious risk with a potential wrong CEO decision by the board.
Questions Director Should Ask Management and Fellow Directors:
How refined and effective is our CEO succession planning, and who is leading it?
How do we measure the potential effectiveness and risks of the program for both planned and unplanned events?
What tools and techniques are the most effective in correctly identifying the required CEO skills and future success leadership characteristics?
What role(s) should committees play—especially long-term strategic planning, nominating and governance, and compensation—to ensure a successful CEO succession plan and selection process? What are the necessary skill sets?
What are our top future CEO success criteria for selecting the best CEO candidate?
What is management doing to groom, mentor, and grow future internal CEO candidates?
How does the company’s strategic short- and long-term paths and goals align with the board’s fiduciary obligations and selection process to hire the right next CEO?
Does the board benefit by hiring an independent outside advisor to assist the board in the CEO selection process? What are the trade-offs in getting the right answer for the company’s brightest future success?