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.
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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.
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April 26th, 2010
Certainly, anyone in the executive recruiting and leadership world would want to get their name in Leadership Excellence. This magazine is one of the most prestigious and well respected magazines about leadership in the world. Korn/Ferry International proudly announced in March that Leadership Excellence has recognized two of their own in the magazine’s list of the Top 100 Thought Leaders in management and leadership today.
Korn/Ferry Employees Recognized
In their February, 2010 issue, Leadership Excellence listed Kevin Cashman and Terry Bacon in their esteemed list. The Excellence 100 list uses 8 areas to judge who they deem to possess a rare combination of traits and abilities for leadership. The criteria includes: preparation, character, principles, personality, performance, experience, expression and influence.
Dennis Carey & Company Appreciate Recognition
“This acknowledgement speaks volumes about Korn/Ferry’s relentless drive to be the premier global provider of leadership and talent solutions, as well as the top-of-mind brand in human capital,” said Ana Dutra, Korn/Ferry Leadership and Talent Consulting CEO. Certainly, Korn/Ferry International, where Dennis Carey is a Senior Client Partner, is proud to be included in this esteemed publication.
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April 16th, 2010
Executive recruiting is what Dennis Carey does, in his capacity as Vice Chairman of Board and CEO Services at Korn/Ferry, specializing in the recruitment of corporate directors and CEOs. According to a brief bio and description of Mr. Carey which appeared in BusinessWeek some of the qualities he looks for when recruiting emerging leaders are: an excellent record of performance, a well-grounded and well-rounded individual, a person who is disciplined, focused and has a global vision or mindset.
Dennis Carey feels comfortable recruiting for any industry or market sector, with an emphasis on senior executives, such as CEOs and board directors. He has an international focus and has recruited for such highly successful companies as Tyco; 3M; Northrop; Grumman; GlaxoSmithKline and Sprint.
When asked to share a piece of advice, Mr. Carey offered the following:
“Quickly understand the importance of competitive differentiation; know what you don’t know and build a great team; realize that the acquisition, motivation, training, and retention of talent on a global scale will separate the winners from the losers.”
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April 6th, 2010
Over the past forty years Korn/Ferry has established itself as the world’s premier provider of talent management and executive recruitment, far exceeding even the founder’s dream at the outset of the company’s creation. This great success was achieved through a commitment to excellence, striving at every step to not only meet but to exceed the expectations of clients and candidates alike. This has been possible through demonstrating the following characteristics in every encounter:
• Integrity and respect
• Teamwork and collaboration
• Personal accountability
• Open and honest communication
Dennis Carey is the Vice Chairman of Board and CEO Services at Korn/Ferry, helping to continue in the tradition set forth by the founders of exceeding client and candidate expectations.
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March 27th, 2010
Korn/Ferry International was founded more than forty years ago, in 1969. Since that time they have become the world’s foremost provider of management solutions with an emphasis on finding highly talented executives which will guide the company through CEO succession, mergers, financial crisis and whatever other corporate issues need expert management.
Dennis Carey is the Vice Chairman of Board and CEO Services, specializing in the recruitment of CEOs and corporate directors.
When Korn/Ferry was established by two young businessmen, Richard Ferry and Lester Korn, they had in mind the idea to create a company which would bring excellent leadership to leading firms and organizations globally. This dream as proven itself and has come to fruition as Korn/Ferry is now the world’s leader in executive recruitment and talent management.
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March 17th, 2010
In May 2009 The Economist published an article entitled “Second Life; Wall Street’s Chief Executives.” This article discussed the phenomena of executives who led their companies into disaster being offered high-paying positions with similar responsibilities despite the fact that they seem to have poor histories as executives.
Generally baffled by this trend, the author quotes Dennis Carey who has a possible explanation for the resurrection of these proven failed execs.
‘Such fallen stars have plenty of useful experience, to be sure. “Someone who fumbled in the last play is likely to hold the ball tighter,” says Dennis Carey of Korn/Ferry, an executive-recruitment firm.’
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March 8th, 2010
Many big businesses, as of late, have been installing independent chairman who were previously CEOs elsewhere to help out with their companies. This is certainly happening more in troubled companies, but isn’t exclusively occurring in these locations. A governance research firm called The Corporate Library, said that 46 former CEOs are chairmen of other companies, up from 14 in 2004.
Dennis Carey, a senior client partner at recruiters Korn/Ferry International says, “These chairmen are strategic equal partners of the CEO because they already demonstrated a successful ‘in the trenches’ style of management.”
At Delphi Automotive LLP, for instance, John “Jack” Krol was named in 2009 as an outside chairman of this auto-parts company. He was working on the daily matters of the company, and helped to adise Delphi CEO Rodney O’Neal on his 2010 and 2011 operational plans. A Delphi spokesman says that Mr. O’Neal views the new chairman “as a partner and coach.”
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February 27th, 2010
When a new CEO comes into a company, there are certainly a number of changes to be expected. One important question is the timing of these changes. Should the new CEO fire and hire quickly, or should he allow the company to adjust to his presence for awhile before he begins to make changes?
As executive recruiter Dennis Carey explains, “Faster is generally better than slower…but too much churn can be very disruptive.” For instance, since he became the CEO of Motorola, Gregg Brown has quickly replaced the head of finance, technology and human resources.
Kevin Coyne, a management consultant and professor at Emory University’s business school explains that, in general, new CEOs decide whom to replace within the first 60 days. They evaluate how the lieutenants are doing quickly, placing them into four main categories.
These categories include excellent workers who they will keep as key aides; others they’ll keep who aren’t the stars; people they will replace eventually, but will keep for now, and those who must go immediately.
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February 20th, 2010
The CEO Academy, founded by Executive Recruiter Dennis Carey, will have its next meeting on May 20, 2010. They will meet in New York City and will, again, have Larry Bossidy as the chair.
The conference will include a vast array of important CEOs sharing their experiences. David Sokol of NetJets, Fred Smith of FedEx, Andrew Liveris of Dow Chemicals and many others will discuss their work. Mississippi Governor Haley Barbour will be there as well to talk about getting heard in Washington.
The program allows CEOs to meet, off-the-record, and to share their vast experiences with each other; in addition, it allows CEOs to learn from leading CEOs who have years of experience and invaluable knowledge to share.
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February 12th, 2010
Founded by Dennis Carey in 2001, the CEO Academy is a unique forum where chief executives can meet to discuss many issues. This “master class” enables leaders in the business world to meet with veteran corporate and business leaders to discuss leading questions and issues.
The program is often moderated by Larry Bossidy and includes off-the-record discussions about how to best run a company, how to operate efficiently, how to strategize and more. This unique experience allows CEOs to learn from each other and to gain invaluable knowledge in an ever-changing global business world.
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