Board & CEO Advisory Group

Proactive Board composition strategy & succession planning

 



​The Board of a successful industrial company had enjoyed multiple years of financial strength and wanted to take a proactive approach to ensuring the Board was strong and successful over the next five years, during which it would face planned CEO and Chair retirements.

Board & CEO Advisory Services Utilized

Leadership / Performance / Culture / Talent

Approach

Board Composition Strategy & Criteria

  • Reviewed the short and long-term strategy to understand what relevant skills, experiences and behaviors are needed on the Board
  • Co-developed an updated set of criteria with the Chair and CEO to assess the current Board and to use in future recruitment

Chair & Board Succession Planning

  • Understood each Director’s personal timeline for retirement and developed succession plan options
  • Benchmarked Board policies and aligned on “filters” for Board succession going forward (e.g. experiential criteria, age and tenure policies) in line with best practice
  • Developed framework for thinking about committee succession

Board Talent delivery

  • Based on findings from the composition analysis and succession planning process, the Board conducted a search for Directors who had skills, experiences and behaviors aligned with the culture of the board and the company's long-term strategy.



Impact

Board Competencies & Assessment

  • Developed board competencies aligned with the strategy and a gap analysis based on the current Board to be used to prioritize candidates in future Director searches

Board refreshment strategy

  • Developed filters for the Board to align around for use in future succession planning around age, tenure and skill requirements

Board Succession Roadmap​

  • ​Co-developed a five year succession roadmap agreed by the Board including CEO, Chair and Committee succession
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    Discover more about our expertise in

    Board & CEO Advisory Group


    We help create strong and stable leadership with the only integrated CEO/Board Advisory Services for corporations and nonprofit institutions.
    Learn More

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    Proactive Board composition strategy & succession planning