Transport for NSW
Some argue that CEO selection is the board’s single most important decision. But it’s a decision that boards are finding themselves having to make more frequently. Whether due to shareholder input, media scrutiny or natural turnover, the average period of CEO tenure today has been reduced to just 5 years. Hence, CEO succession is a major issue.
- Ensuring the boards receive regular updates on the development of key internal candidates not only for the top job but all critical executive positions
- Nurturing and developing high potential staff and putting in place the right rewards to retain them
- Developing a tailored profile for the skillset of the future CEO to not only measure candidates against the profile, but also provide targeted leadership development
- Building skills and experience through a series of carefully selected developmental roles to mitigate any gaps in experience and leadership