The Heartland Chapter kicks off the new program year with an event focused on the board's role in succession planning.
We hope you will mark your calendars and plan to join us.
Failure to plan well for a CEO transition comes with a high cost.
That cost includes an average of $1.8 billion in lost shareholder value, and 40% of new CEOs underperforming in their first 18 months.
Each year approximately 15% of companies search for a new CEO; therefore, selecting your next executive officer may be the board’s most influential decision. Unfortunately, the amount of time most boards spend on this critical responsibility is far too limited.
Top performing companies have recalibrated their focus before, during, and after a CEO transition to increase the speed and depth of impact yield following the change.
Join Bob Druten, chair, Kansas City Southern, and Pat Ottensmeyer, president and CEO, KC Southern to hear how their board and management teams have continued to build robust and sustainable processes to create, rather than lose, value during, and after, a leadership change. Lewis Rusen, senior partner and vice chair, Korn Ferry's North American Talent Advisory Practice, will bring strategies and tactical tools to optimize the onboarding and impact of new-in-role CEOs to our breakfast forum conversation. Tom Wright, executive advisor-human resources administration, EPR Properties, will moderate the program.
Getting CEO succession right matters, now and well into the future; getting it wrong can be a costly mistake. We look forward to seeing you on September 11.