Organizations are often unsure how to go about finding a successor when faced with a planned or unplanned CEO transition. The first step in identifying an outstanding leader is to appoint a well-planned search committee, writes Witt/Kieffer senior vice president, Mark Andrew. Selecting an effective search committee is an important responsibility of the board, and can be the difference in attracting top talent to the position.
A key component in developing the search committee is selecting a chairperson who will effectively organize the process and communicate with the organization. Careful consideration should be given to ensure the chair is politically savvy and has the interpersonal skills to lead the group, according to Andrew. In addition, the board must consider the optimal size of the committee, as well as committee members’ expertise, knowledge of the organization and ability to be objective. From the start, it is important that the board and search committee have clearly defined objectives and understand what is expected. Establishing a strong search committee can certainly help lay the groundwork for an effective process and smooth CEO transition.
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