The Next CEO

Board and CEO Perspectives for Successful CEO Succession

“The Next CEO is an outstanding book. It provides great insights into the challenges of leading a company and how to select the right leader. The many practical examples from different company situations and the quotes from industry leaders make it a brilliant book which is fun to read.”

Jan Jenisch

CEO, LafargeHolcim

Synopsis

Every year, companies spend billions of dollars in board time and headhunter fees on CEO searches. In fact, by many accounts, the selection of the next CEO is the single most important task of the board of directors. Yet, despite the huge amount of time, money, and attention given to the task, many CEO changes fail, with disastrous consequences for all concerned. With so much at stake, it is natural to ask what companies and their boards can do to increase the odds of success. This was the starting point of our work on CEO succession that led to a ten-year research project and has taken us on a global journey through the boardrooms of some of the world’s leading companies. The outcome of this journey is The Next CEO, a book that captures what we learned in practical tools and frameworks Illustrated with an abundance of real-life examples from interviews with CEOs, C-suite members, members of the boards, and headhunters supporting CEO searches.

The Next CEO explains how boards can improve the odds of success with CEO succession by identifying clear CEO mandates and associated CEO profiles and by selecting CEOs that are fit for purpose. To do so we introduce four distinct mandates as well as the CEO profiles that best fit these mandates.

A second key insight from our research relates to the importance of how new CEOs manage the transition into the position and kick off and drive the mandate. The Next CEO therefore explains how the CEOs of leading corporations effectively take charge and create results, providing a roadmap for incoming CEOs.
CEO tenures, if successful, often span more than one mandate and CEOs and the boards hiring them need to think strategically about their time in the role and what may follow. To support this process, The Next CEO introduces a set of ideas that helps CEOs and Boards to look beyond the current mandate and prepare for the long-term by thinking about their next act.

These ideas are brought to life with case studies and interviews with well-known corporations such as ABB, Alibaba, Freudenberg, GE, Google, HNA, HP, Microsoft, Nestle, Nike, Nokia, Novartis, Roche, Sony, Tata, and Zurich Insurance.

The Next CEO is a practical book written for those involved in CEO succession either now or in the future. It provides practical reading for board members of medium-to-large-size fi rms involved with CEO succession, and for those preparing for their first CEO position. It is also relevant to headhunters who are involved in the process of CEO succession as a working tool for them and their clients. Finally, the book will be relevant to courses on corporate governance and strategic transformation at the executive and MBA levels.

What Readers Are Saying

“A book very much based on real life. It will help each Board a lot to answer one of their key challenges: ‘How to get the right CEO’.”

Prof. Dr Michael Süss

Chair of the Board of Directors, OC Oerlikon

"In The Next CEO, Keil and Zangrillo provide an insightful perspective how boards and new CEOs can beat the odds of CEO succession and turn what is one of the pivotal moments for all organizations into a success. The book is full of helpful advice for boards, new CEOs, and those supporting them."

Erwin Mayr

CEO, Wieland Werke AG

“Appointing the CEO and thereafter supporting her/him to be successful all the way to the exit are the most critical tasks of the Board. This book is full of good practical experiences and real-life views of relevant colleagues from many companies and situations. Absolutely worth reading for newly appointed CEOs and all Board members, Chairs in particular! I can think of many situations as the Chair of a Board or CEO when the learnings from this book would have made me think twice or act differently.”

Jorma Eloranta

Chair of Board of Directors, Stora Enso

“The selection of the right CEO is by far the most important task of any corporate board. The insights provided in this excellent book give the reader a good understanding of what ”right” means, depending on the board’s vision of upcoming challenges. At the same time, all new CEOs and their organizations will benefit from understanding the mandate given to the new CEO. I would warmly recommend this real-life based playbook for corporate board members and CEOs anywhere.”

Päivi Jokinen

Chairwoman of European Women on Boards

“Few decisions are more critical and more challenging than CEO succession. The authors offer rich insights into how the board and the CEO need to work together to ensure a successful CEO transition.”

Heiner Thorborg

Headhunter

"I have read "The Next CEO" with interest and can only agree with all the findings. I am convinced that this book will be a valuable aid in the recruitment and introduction of new CEOs"

Konrad Graber

Chairman of the Board of Directors, Emmi AG

The book is invaluable practical reading for board members of medium-to-large-size firms involved with CEO succession, and for those preparing for their first CEO position.

It is also relevant to headhunters who are involved in the process of CEO succession as a working tool for them and their clients. In addition, the book will be relevant to courses on corporate governance and strategic transformation at the executive and MBA levels.

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