Posts Tagged ‘CEO Succession’
Saturday, August 20th, 2011
Dennis Carey and Dayton Ogden co-authored book entitled “CEO Succession”. The article “Finding a New CEO” adapts passages from the book, bringing up a few main points.
The article reads: “For a CEO taking office after the abrupt departure of a predecessor, lining up a successor might seem the least important item on a formidable list of must-dos. The replacement CEO must get control of the situation that caused the demise of the previous CEO, win over demoralized employees and unhappy investors and put a plan into place. He or she must build a team to tackle the problems and take action. Yet planning for a successor can go a long way toward reassuring employees and investors and steadying the company. And if the new CEO isn’t interested in the task, the board should be.”
Tags: CEO, CEO Succession, Corporate Leadership, Dayton Ogden, Dennis Carey, Finding a New CEO
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Thursday, July 7th, 2011
Dennis Carey co-authored an article discussing CEO succession. He explained that GlaxoSmithKline allowed three internal candidates to compete for the position, sparking many debates in the business world. All three candidates were qualified for the role of CEO, and so the firm arranged year-long CEO-level projects for each, during which the candidates were watched closely by the directors and chief executives.
Later, the executives were asked: what were the candidates’ best and worse decisions? What are their strongest and weakest leadership qualities? Whose capabilities are the most suited to meet the company’s strategic needs? Whose temperament, passion and work style best match the company’s culture and strategy?
Dennis Carey and his co-authors explained that while covering the story, the media focused on the wrong things. They wrote: “What was missing in the articles and blogs is perhaps the key lesson for corporations: a company would do well to establish parallel approaches to succession. Insiders often get the corporate top job- in fact, more than 80% of the current Fortune 100 CEOs were selected from within the companies’ ranks- yet the high turnover among CEOs is testament to the frequency with companies pick the wrong insider. A set of parallel approaches allows a company to gather comparable data about internal candidates, with each process filling in the information gaps left by the other.”
Tags: CEO Succession, Dennis Carey, Executive Recruitment, GlaxoSmithKline
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Thursday, May 12th, 2011
Dennis Carey, executive recruiter at Korn/Ferry International, understands that the process of selecting a new CEO is very complicated.
In an article, he wrote:
“A company would do well to establish parallel approaches to succession. Insiders often get the corporate top job- in fact, more than 80% of the current Fortune 100 CEOs were selected from within the companies’ ranks- yet the high turnover among CEOs is testament to the frequency with which companies pick the wrong insider. A set of parallel approaches allows a company to gather comparable data about internal candidates, with each process filling the informational gaps left by the other.”
Tags: CEO Succession, Dennis Carey, executive recruiting, Korn/Ferry International
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Sunday, March 20th, 2011
Dennis Carey has a website called CEOSuccession.com. The website is based on his personal experiences as an executive recruiter, and provides insight and information in the area of CEO succession.
“In working with leading companies, we have developed a window on how boards can get it right when closing a new chief executive,” Carey says. “This is the critical fiduciary responsibility of the board, ensuring the steady flow of effective leadership in corporate America.”
“Whether by sudden tragedy, poor performance, merger, takeover or simple retirement, every CEO will leave his or her position. The corporate boards that take on a systematic predictable and transparent process in choosing the next leaders of the organization build stronger cultures, clarify the company’s strategy and deliver value to all stakeholders, including employees,” Carey said.
Tags: CEO Succession, Dennis Carey, executive recruiting
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Saturday, February 19th, 2011
Dennis Carey’s opinions are often shared in various business magazines. In an article posted in the Harvard Business Review, Carey discussed the appointment of new CEOs.
He said: “A company would do well to establish parallel approaches to succession. Insiders often get the corporate top job- in fact, more than 80% of the current Fortune 100 CEOs were selected from within the companies’ ranks- yet the high turnover among CEOs is testament to the frequency with which companies pick the wrong insider. A set of parallel approaches allows a company to gather comparable data about internal candidates, with each process filling in the informational gaps left by the other.”
Tags: CEO Succession, Dennis Carey, Harvard Business Review
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Saturday, February 5th, 2011
Dennis Carey co-authored an article for the Wharton Leadership Digest, in which he presented the numerous benefits of new CEOs meeting those who have previously worked in that position and are more experienced.
He explained 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.”
Tags: CEO Succession, co-author Dennis Carey, Dennis Carey
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Friday, January 7th, 2011
Dennis Carey and Dayton Ogden co-authored a book titled CEO Succession: A Window on How Boards Can Get It Right When Choosing a New Chief Executive.
A review on their work stated that the authors “offer the insiders’ prescription for success in succession. Directors will savor the advice on how to pick the right CEO; executives will relish the advice on how to be chosen; everyone will delight in seeing how it’s really done at companies from Cigna and Delta to GE and Sunbeam. Graphically narrated by search specialists at the top of the game, CEO Succession tells how to put the right leadership in place for results.”
Tags: CEO Succession, Dayton Ogden, Dennis Carey
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Thursday, December 30th, 2010
Dennic Carey co-authored an article that was published in the Wharton leadership Digest. In it, he explains the benefits and knowledge which can be obtained by new CEOs through meeting older, more 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 consume 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.”
Tags: CEO Succession, co-author Dennis Carey, Dennis Carey
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Friday, September 24th, 2010
Co-authored by Dennis Carey and Dayton Ogden, CEO Succession offers executives and companies a road map for creating a smooth corporate transition. They used close-up evaluations of such companies as Metropolitan Life, Hewlett-Packard, Mellon Bank, and GTE to illustrate their points and to offer key examples.
The authors are both experienced business people with years of expertise in the field. Dayton Ogden is chairman of Spencer Stuart, where he served for nine years as the firm’s chief executive. His search consulting practice focuses on CEO succession and board recruiting for a large range of international clients. He is on the board of the American Business Conference and is secretary and a director of Project HOPE.
Tags: CEO Succession, Dennis Carey, Dennis Carey business
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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.
Tags: CEO Succession, Dennis Carey
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