The Corporate Board, September/October 2010 — Vol. XXXI No. 184
by Stephen A. Miles, Heidrick & Struggles and Professor David F. Larcker, James Irvin Miller Professor of Accounting, Director of Stanford Graduate School of Business Corporate Governance Research Program, and Senior Faculty, Rock Center for Corporate Governance at Stanford University
Many boards have done shockingly little on CEO succession. Some of our largest public companies harbor a dirty little boardroom secret—their boards of directors have done shockingly little to assure sound, effective CEO succession. Research by Heidrick & Struggles and Stanford University finds boards often have vague succession “plans,” or are overly optimistic about the ability of CEO prospects to step up to the role. Plus, their top candidates may not even know about (or want) the job.
Tags: CEO Succession