CEO Succession Case Study

We had been helping this financial services company select its leaders for several years. Then they came to us with an especially important assignment: Help them select their next CEO! This is the CEO succession case study that resulted.

Challenge: How to Best Make the Decision?

When the selection committee asked our help in choosing their next CEO, we told them there were 2 options. They could do a fairly quick process. Or we could design a more in depth process that would increase the odds of a great decision, but would take a little longer. Given the importance of this hire, they opted for the latter.

Solution: Multiple Data Sources = Optimal Selection Decision

There were 3 internal candidates for the position. How to select the best one to lead the firm forward?

While the company had a job description, they didn’t have clearly spelled out exactly what they were looking for. We interviewed board members and leaders who worked with the CEO to get their thoughts on what competencies were important. Key producers from various offices around the country were coming in town for a meeting. We got their input as well, which they appreciated. Out of this emerged a set of CEO, behaviorally-defined competencies which, as it turns out, included 3-4 new items that hadn’t been on their radar before. These competencies enabled us to customize a 360 survey and a battery of assessment measures to get at the competencies the company had defined.

Additionally, we interviewed the candidates’ direct reports and peers. We also got a sense of the candidates’ visions and prioritizations by asking them to write a feature Fortune Magazine article about the firm as it would look 5 years from now. We added this data to the biographical and performance data that the company had compiled on the 3 contenders.

We compiled all of this information and presented it to the 12-member selection committee. The committee then made its decision.

Results: High Buy-In, Strong Earnings Growth

This CEO Selection Process yielded a number of positive results:

There was strong buy-in throughout the firm for the CEO choice, given that many leaders had input into the decision process.
The organization enjoyed strong growth in revenue, net income, and employee size during the CEO’s tenure.
At the company’s urging, the CEO stayed in his position for 13 years–30% more than the average CEO tenure.

Do you have any leaders approaching retirement in the next 5 years? Please contact us and we’d be pleased to help you think through some options for a smooth leadership transition. We’d love to have you be our next successful CEO succession case study!

Get the best results from your top team

Terms of Use

Acceptance of Terms

This Web site (“Site”) has been created and is supported by Psychological Associates. The content and services, including third party services, provided through this site are available for your use subject to the terms and conditions set out in this document.

By accessing or using the Site in any way, including, without limitation, use of any of the Services, downloading of any Materials, or merely browsing the Site, you agree to and are bound by these Terms of Use.

Psychological Associates reserves the right to change these Terms of Use and other guidelines or rules posted on the Site from time to time at its sole discretion without prior notification to users.

Intellectual Property

The Materials and Services on this Site are protected by copyright, trademark, patent, and/or other intellectual property laws; and any unauthorized use of the Materials or Services at this Site may violate such laws and these Terms of Use. Except as expressly implied in these Terms of Use, Psychological Associates does not grant any express rights to use the Materials and/or Services. You agree not to copy, republish, frame, download, transmit, modify, rent, lease, loan, sell, assign, distribute, license, sublicense, reverse engineer, or create derivative works based on the Site, its Materials, its Services, or their selection and arrangement, except as expressly authorized in these Terms of Use. In addition, you agree not to use any data mining, robots, or similar data gathering and extraction methods in connection with the Site.

User Conduct

In using the Site, including all Services and Materials available through it, you agree:

Not to disrupt or interfere with the security of, or otherwise cause harm to, the Site, or any Services, Materials, system resources, accounts, passwords, servers, or networks connected to or accessible through the Site or any affiliated or linked Web sites
Not to upload, post, or otherwise transmit through the Site any viruses or other harmful, disruptive, or destructive files
Not to create a false identity
Not to use or attempt to use another’s account, password, Service, or system without express authorization from Psychological Associates
Not to intentionally or unintentionally violate any applicable local, state, national or international law, or any regulations having the force of law.

You are responsible for maintaining the confidentiality of your account and for all activities carried out using your account information. You agree to notify Psychological Associates immediately of any unauthorized activity using your account information, or if you suspect that the confidentiality of your account information has been compromised.

Managing Content and Communications

Although it is not our intention to do so, Psychological Associates reserves the right, at its sole discretion, to delete or remove user content from the Site and to restrict, suspend, or terminate your access to all or parts of this Site, at any time (including, without limitation, our good faith belief that you have not complied with these Terms of Use) without prior notice or liability.

Psychological Associates may, but is not obligated to, monitor or review (i) any areas of the Site where users transmit or post user content, including but not limited to areas where Services are available, and (ii) the substance of any user content.

To the maximum extent permitted by law, Psychological Associates will have no liability relating to user content arising under the laws of copyright, libel, privacy, obscenity, or otherwise.

User Access Information

Where use of the Site or access to certain Materials requires access information, you will be required to provide certain access information.

In accessing these Materials, including all Services and Materials available through it, you agree to:

Provide accurate, complete, and up-to-date information about yourself as required by the Site’s registration form.
Abide by the terms and conditions as outlined throughout the Terms of Use document, especially those in the Intellectual Property section.

Psychological Associates Privacy Policy

Your Registration Data and certain other information that you provide to us are subject to our Privacy Policy. For further information, please see our full Privacy Policy.

Disclaimer of Warranties

In using this Site and its Services, you expressly understand and agree that:

The Site and the Services contained on it are provided on an “as is” and “as available” basis and that use of the Site and Services is at your own risk.
Psychological Associates disclaims all warranties of any kind, whether by express or implied (including, but not limited to the implied warranties or merchantability) fitness for a particular purpose and non-infringement.
Psychological Associates makes no warranties regarding the accuracy, reliability, quality, or availability of service of any products, Materials, or Services made available on the Site.
Any damage to your computer or loss of data that results from the use of the Site or Services, or from the download of any material will be your sole responsibility and is done at your own discretion.
No advice or information obtained from the Site or its Services, whether written or oral, shall create any warranty not expressly stated.

Further, Psychological Associates makes no warranty or condition that:

The Services will meet your requirements
The Services will be uninterrupted, timely, secure or error-free
The results that may be obtained from the use of the Services will be accurate or reliable
The quality of any products, Services, information, or other material purchased or obtained by you through the Services will meet your expectations
Any errors in the software will be corrected.

Limitation of Liability

To the extent not prohibited by applicable law, Psychological Associates is not liable for any direct, indirect, incidental, special, consequential, punitive, or exemplary damages, including, but not limited to: damages for loss of profits, revenue, goodwill, use, data, electronically transmitted orders or other economic advantage (even if Psychological Associates has been advised of the possibility of such damages), however caused and regardless of the theory of liability, whether in contract (including fundamental breach), tort (including negligence), or otherwise, arising out of or related to:

The use or inability to use the Services
The cost of procurement of substitute goods and Services purchased or obtained or messages received or transactions entered into though or from the Services
Unauthorized access to or alteration of your transmissions or data
Statements or conduct of any third party on the Services or Site
Any other matter relating to the Services, including content you may download, use, modify, or distribute from the Site.

You have the sole responsibility for adequate protection and backup of data and/or equipment used in connection with the Site and will not make a claim against Psychological Associates for lost data, re-run time, inaccurate output, work delays, or lost profits resulting from the use of content.

You agree to hold Psychological Associates harmless from, and you covenant not to take any legal action against Psychological Associates for, any claims based on using the Site, whether in contract (including fundamental breach), tort (including negligence), or otherwise, except where Psychological Associates is prevented by law from making such exclusions or limitations.

Links

The Services on this Site may provide links to other World Wide Web sites or resources. Because Psychological Associates has no control over such sites and resources, you acknowledge and agree that Psychological Associates is not responsible for the availability of such external sites or resources; and does not endorse and is not responsible or liable for any content, advertising, products, or other materials on or available from such sites or resources. You further acknowledge and agree that Psychological Associates shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods, or services available on or through any such site or resource.

MENU

CEO Succession Case Study

Challenge: How to Best Make the Decision?

Solution: Multiple Data Sources = Optimal Selection Decision

Results: High Buy-In, Strong Earnings Growth

Get the best results from your top team

Assessment Login

Privacy Policy

Privacy Policy of q4solutions.com

Policy Summary

Personal Data collected for the following purposes and using the following services:

Contact information

Full Policy

Owner and Data Controller

Types of Data Collected

Mode and place of processing the Data

The purposes of processing

Detailed information on the processing of Personal Data

The rights of Users

Cookie Policy

Additional information about Data collection and processing

Terms of Use

Terms of Use