CEO, progress report: the 2019-2020 promotion is complete
The Les Echos article, “CEO, progress report: the 2019-2020 promotion is complete," quotes Russell Reynolds Associates Consultants Marc Sanglé-Ferrière and Paul Jaeger and features our report France Governance Study 2020. The article is excerpted below.
When it comes to recruiting a new manager today, the presidents of control bodies and nomination committees demand "leadership qualities, strong international experience, and beyond digital, an ability to question business models, while remaining pragmatic and results-oriented, "summarizes Marc Sanglé-Ferrière and Paul Jaeger of Russell Reynolds Associates, who publishes its annual study on the governance of CAC40 and SBF120 companies.
40-year-olds or in their fifties
At 51, the average age of newcomers appointed to SBF120 companies has dropped a little. Half of them were recruited from outside, a change from the last few years during which "internal promotion was in the order of 70%", specify the headhunters.
Separation of functions
"The common characteristic of these new CEOs is that they have extensive experience and sector expertise", observes Marc Sanglé-Ferrière. In fact, in the area of reinsurance, companies are less tempted by transfers between sectors, when a new lease of life can be found to initiate digital transformation.
With the exception of the boss of Atos, who for the most part has a career made up of functional roles, the newcomers have in common the fact of having "managed large P&Ls" with a significant international component. The arrival of such marked business paths resulting from various training (including at universities) slightly sway the French standard, which means that a manager of a large company comes from an elite sector, that is to say has graduated from a major engineering and/or business school, or even from ENA. On this training aspect, "France is in the process of joining other countries", judges the expert.
With the health crisis, “a certain number of assumptions are no longer correct; this implies that managers are able to question and change the foundations of some of their business models ", according to Marc Sanglé Ferrière.
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