Wednesday, October 31, 2007
Recommended Reading - Why Boards Pick the Wrong CEOs
BusinessWeek highlighted a Harvard Business Online article by Jay W. Lorsch and Rakesh Khurana entitled, Changing Leaders: The Board's Role in CEO Succession - Why boards pick the wrong CEOs. The timing could not be any better for such a piece. As high-profile CEOs face the ax companies (particularly their boards) need to be better prepared to find the right replacements to get their companies back on track. Both the edited and full version of the recommended article are worth a read.
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I agree with the Business Week article but it is missing a critical issue in the "Wrong CEO" dilemma. A CEO's cognitive capacity must match that of the role. When the CEO's capacity is below the role, the forecast is bleak. When it matches the role, stability will reign. When it exceeds the role, fasten your seatbelt for change and growth.
To read more see: http://www.missionmindedmanagement.com/merrill-lynch-buy-or-sell-depends-on-the-successors-cognitive-capacity
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