In this episode of Build Better Boards, hosts Dr. Keri Jacobs and Richard Fagerlin launch Season 3 with a focus on one of the board’s most critical responsibilities: selecting and supporting the CEO. Prompted by listener feedback and insights from a recent survey of CEOs, they explore how boards can better prepare for CEO transitions and strengthen their leadership acumen.

• The season will explore the board’s role in CEO hiring, firing, evaluation, and succession planning.

• A survey of CEOs revealed that most boards rate themselves as only moderately prepared for a CEO transition, and they view peer boards as even less prepared.

• Common missteps in CEO selection include internal “good old boy” hires, favoring charisma over competence, and disregarding formal policies.

• Boards often try to run CEO searches themselves due to cost or a belief they know what’s best, but may lack the needed expertise or objectivity.

• Preparation begins by clarifying what kind of leader the organization needs next, recognizing blind spots, and seeking external perspectives when necessary.

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