Tips for Selecting a Potential CEO

We lately witnessed two high profile senior management positions for two top 500 fortune companies. Selecting a CEO for any company is crucial because so many rides on a positive outcome and much before that so many questions arise such as is he/she the right person to lead the company? Will she/he able to collaborate with the board? etc. 

Universalhunt.com has over a decade of experience in conducting most high-profile CEO and board level searches in the world. We’ve built our reputation by working at the top placing senior-level professionals at the world’s leading companies. 

Right from specialists, executives, directors, and many more whom we have seen, worked with, interviewed, and from our search experience, here are a few tips for directors and executives to guide the executive succession process. 

Internal hiring is good for company's progress. It doesn't mean you need to over-promote employees above their experience and level, but companies should ideally be developing CEO succession plans that concentrate on  internal talent. Why? because internal hires often perform well, the main reason is that they understand the political mechanisms of the company, which can make them more effective. 

The qualities and skills you require in a CEO will vary according to the growth of your company such as start-up, established, expansion etc. Recognizing the growth stage of your company will enable you to more effectively choose your desired candidate. 

3) An Evaluation Methodology 

Using an evaluation system that links your company's strategic requirements  with the possibilities of individual capacities and performance, with the following focusing on their sincerity and ethics,  execution excellence, team building, personal gravitas, shareholder return, and ability to work in the boardroom.

When defining suitability to be CEO, companies will want to mention themselves of an obvious assumption; No candidate is perfect. The purpose is to understand the relative trade-offs among the candidates’ weaknesses,  strengths and to assure that the candidates’ deficiencies are not in areas that are particularly critical for company performance.