Turnover among senior-most execs hit a five year low recently. Since C-suite hiring is linked to economic cycles, it's no surprise, but until the outlook improves significantly, expect more promotions from within and fewer CEO searches.
In the Spotlight - Governance and the Board of Directors
Articles addressing how to get the most out of your board of directors, the appropriate board composition mix as well as ensuring that governance policies are operating effectively.
Hurd Mentality: HP Board Next to Go?
HP's board avoided transparency when communicating their decision to part company with Mark Hurd. Seeking shareholder input is an extreme method, but in light of the resultant share price declines, some are left wondering whether the elected directors at HP might be next in line for removal.
CEO Succession: Not on the Radar
Pay attention to your bench, say the authors of recently released research on CEO succession. Few boards invest time in planning for transition, and this largely ignored function can help reduce risk, say the experts. Does this activity threaten you, as a sitting CEO?
An Ounce of Prevention
This article from strategy&business argues that corporate directors should play a more active role in risk oversight and crisis prevention. The authors describe three specific methods by which board members can assist: the development of a 'risk manifesto' that outlines the role directors will play; the active involvement of senior executives in board briefings that anticipate future risk scenarios; and the solicitation of risk concerns from the shareholder community.
To Tell the Truth
Labels: Leadership, Ethics
Do business leaders find fibbing easier than those who hold positions of lesser authority? It's possible, according to recent research that compared the believability of deliberate tale-tellers with those asked to answer truthfully. Those assigned the 'boss' roles were far harder to catch lying than the study's 'employee' subjects, who by all measures exhibited more involuntary signs of discomfort when asked to shade the truth.
Got Advisory Board?
At ExpertCEO, we've benefitted greatly from wisdom and introductions offered by members of our advisory board. This how-to handles the thought process around assembling a panel of experts on whom you can draw for specialized skills or industry contacts. Do you currently have a formal advisory board? Have you consider one as a mechanism for growth and innovation?
Board Chair Job Description
Labels: Governance, Board of Directors
Identifying the right candidate to lead a board is the easy part. Defining the duties is more difficult, where the title is Chair, lead director, or presiding member. McKinsey Quarterly interviews 11 current or former board leaders, defining best practices and examining the recent evolution of this important and critical position.
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