CEO Succession
Forza has developed a dedicated service to help boards and companies be well prepared for an orderly and successful CEO transition at the appropriate time. Equally to deliver timely and effective solutions in the case of an unexpected CEO vacancy.
Our CEO Succession Planning process is carried out in the following phases:
Developing CEO Specifications
- Engage appropriate stakeholders to get a deep understanding of the company’s strategy and likely challenges at the projected time of the CEO transition.
- Develop specifications on
- Appraisal of current CEO and suitability for the organisation’s future needs
- Focuses of the business and envisaged challenges of the organisation
- Critical experiences the next CEO must have
- Competencies the next CEO must have
- Desirable personal characteristics of the next leader
- A competency measurement model will be used to assess the potential CEO based on:
Developing the Succession Planning Approach and Processes
- Assessment and development of likely internal candidates that could one day lead the business
- Benchmarking external candidates for suitability and availability
Assessing Internal Candidates
- Work with appropriate stakeholders to assess potential internal candidates against the CEO Specifications and measure their competency levels and preparedness
- Forza will then engage one of our specialists to assess potential internal candidates on
- Drive
- Employee value proposition
- Competency Gaps
- Ambition
- Learning Ability
- Forza will provide a recommendation report on potential candidates’ likely preparedness and development plans
External Market Mapping for CEO Talent
- Developing a confidential list of target companies
- Developing a confidential list of external talents
- Forza consultants will screen and assess them based on CEO Specification and competency measurements in the same way we will assess potential internal candidates
- Forza will make recommendations for client introductions and meetings
CEO Succession planning and mapping will be a continuous dialogue and it will be important to conduct regular reviews to keep internal and external candidates in view.
Systematic planning is crucial to ensure genuine options for the time when the CEO selection process truly begins.
Forza is committed to best practices that protect interests of board members, employees, shareholders and the company’s long-term prospects.