Egon Zehnder interviews

“Strategic competency, for example, which is precisely what a CEO is supposed to possess, is only based in very small part on a knowledge of methods and far more on a blend of analytical and combinatory skills, which means it is closely linked with intelligence and intuition.”

“So when selecting a new CEO, the supervisory board also needs to be perfectly clear about which of the candidates’ past achievements and existing competencies represent decisive qualifications for their future leadership role and which do not.”

“The most successful CEO succession systems invariably analyze both internal and external options. This will involve a thorough assessment of internal and external candidates, or at the very least benchmarking the internal candidates against their external counterparts.”

“Regular updates on leadership development programs and strategic involvement of potential candidates in board meetings can enhance familiarity and confidence in internal talent.”

“So the most vital variable in the equation when choosing a new CEO is an objective appreciation not of their current abilities but of their potential in relation to the new role and its challenges.”