CASE STUDY: CEO SUCCESSION
Supporting the new Chair in finding a CEO successor in a FTSE 100 insurer.
Our client stepped into the role of Chair knowing that she would be responsible for ensuring the successful transition from a founder CEO to the next generation. She wanted to understand the capability of the existing senior leaders as a precursor to running a selection process, including external candidates. Merryck & Co. introduced Strengths Unleashed, as Triangulation was perfect for providing the data necessary to inform their decision.
Based on our initial assessment work, focused development plan and Merryck & Co. mentoring support for the leading contenders, the Board has chosen an internal candidate as the CEO successor.
HOW WE MADE IT HAPPEN
10 senior leaders, including the existing CEO were assessed using the triangulation method.
A culture diagnostic identified the key values that the new CEO needed to espouse.
The results were shared with the Board as a key input to the transition process
Using the triangulation data, we identified priorities for development.
We created detailed plans that harnessed natural talents, built on existing strengths and addressed areas of weakness where the organisation needed the leaders to be strong.
An action plan using tried and tested methods to shift others’ perceptions was agreed.
Internal candidates were matched with experienced Merryck & Co. former CEO mentors.
After 2 years of working on building awareness, competence and execution the candidates were reassessed.
The Board made their choice after comparing the external candidates.