Chief executive officers are the mainstays of their companies – both externally and internally. They hold primary responsibility for developing and implementing forward-looking strategies and evolving corporate culture. And in our hyper-complex and fast-paced age, they are the voice of the company and architects of value creation that goes well beyond financial gain. Appointing the CEO is one of the most important decisions and extensive tasks of any board of directors.
The CEO succession process presents the board of directors with numerous challenges, says a new report released by Big Four accounting firm KPMG and authored by Egon Zehnder. The