Archive for the ‘CEO Succession’ Category

The CEO & His Many Responsibilities: Dennis Carey

Monday, August 2nd, 2010

As part of an article that Dennis Carey co-authored and that was published in the Wharton Leadership Digest he discusses the benefit for new CEOs of meeting with experienced CEOs.  He explains that,

“On top of the general problem of harnessing the energies of a company comes the simple fact that a CEO may be very unfamiliar with some core responsibilities.  Most new CEOs have never chaired a board meeting.  Some may never even have attended one. Most have never had to forge a working relationship with a board-selected “lead director.” Outside the boardroom, issues such as advertising, human resources, the press, Wall Street analysts, mergers, and board member recruitment, which consumer large amounts of a CEO’s time and attention, are activities that most senior executives below the top job may have dealt with on only a very limited basis.”

Dennis Carey & The CEO Academy

Saturday, July 24th, 2010

A number of years ago, Dennis Carey co-wrote an article that is still entirely relevant today.  Entitled “Leadership Development: What New CEOs Can Learn From Old CEOs,” the article explains why Dennis Carey started the CEO Academy.  In the article, he explains that,

“That is why we have come to believe that CEOs need to learn what they can from others who have acquired, largely by trial-and-error, insights into how to run a company. We believe there is an immense and largely untapped body of knowledge on these subjects.  It resides among the fraternity of experienced, seasoned, and retired CEOs who have been working in the trenches for many years.  They may well be the best “executive education” resource for current and future CEOs.”

Succession Planning a Crucial Business Strategy Says Dennis Carey

Friday, July 16th, 2010

As an issue, succession planning has become even more a pressing matter of late. In Dennis Carey’s book “CEO Succession” Mr. Carey points out that the tenure of an executive has shrunk on average from 8 years a decade ago, to only about 5 years now, making the issue of succession planning of even greater importance.

It is understandable that a CEO might not be too anxious to name his or her successor while he/she is still functioning in his capacity as leader. Human nature dictates that “few chief executives want to encourage a bright youngster to covet their job too early.” Nevertheless, Dennis Carey recommends that a healthy company which wants to remain that way needs to think about its future early and develop a succession plan that will allow the transfer of power to be as smooth and painless as possible.

Dennis Carey Urges Succession Planning for Companies

Thursday, July 8th, 2010

Succession planning is an important topic for Dennis Carey. In his capacity as the vice chairman of Board and CEO services at Korn/Ferry, Dennis Carey is often asked to help companies fill in the void when an executive either retires, dies suddenly or for any one of a number of reasons leaves his leadership role on the board of a company.

Sometimes, because there has been no advanced planning for how to replace the retiring executive, the company is left in a vulnerable, leadership-less condition which can wreak havoc on the normal functioning of a company’s business. Left without leadership and without a plan to appoint the next executive in an orderly fashion, companies will find that they appoint someone in a hasty manner, and might not always pick the perfect person for the job.

Dennis Carey Offers 5 Key Business Practices

Monday, May 10th, 2010

As an executive recruiter with Korn/Ferry, Dennis Carey has had years of experience helping companies to recruit new CEOs. He offers important advice to businesses, CEOs and executives about creating smooth CEO succession. Here, we offers 5 of his ten most important business practices.

Dennis Carey Key Practices

Certainly, in order to make CEO succession smooth, the company needs to have a strong and involved board. Top management should continually be exposed to the board and there should be ongoing communication between the two.

More Business Advice with Dennis Carey

The next generation of CEO prospects needs to get a great deal of experience with outside boards, with the media and with the financial community. The executive or operating committee needs to be actively involved so that they are exposed to an overview of the company including its strategy and issues.
Finally, he recommends that the company does succession planning on an on-going and real-time basis.

CEO Succession with Dennis Carey

Thursday, January 28th, 2010

Corporate recruiter, Dennis Carey, offers an overview of CEO Succession. Mr. Carey works for Korn/Ferry International and specializes in the recruitment of CEO’s and corporate directors.