Leadership Advisory

A KEY RESPONSIBILITY

CEO Succession

Planning for the orderly succession and renewal of the CEO is one of the key responsibilities of boards. Riverstone can help you be prepared for everything from a sudden unexpected departure to a retirement that is planned well in advance.

There are a number of important factors to consider:

Emergency Replacement:

It should be clear in the short-term who can step into the role. Those executives should be given regular exposure and experience to the components of the CEO role.

Long-term Planning:
CEO (and Executive) vacancies should be forecasted where possible. Succession planning must be a regular item on the board’s agenda.
Timing:
Planning and development of CEO candidates should occur (at least) two-years before a transition.
Internal versus External:
Internal appointments have proven to be more effective except in the cases when the company is in financial distress or there is a toxic culture. Both internal and external appointments should be considered.
Board Decision-making:
The Board needs to agree on the profile of the next CEO. That should be aligned to the company strategy and industry context over a 3-5 year horizon.
Developing CEO Successors:

Planning should involve investment in tailored development of candidates versus a ‘name in a box’ or a one-off ‘assessment’ approach.

Executive Development Programs

The best executive teams are constantly developing their leadership style and approach to match the demands of the future. Our approach to executive development is built upon decades of understanding what it takes to be successful in an executive role and how executives learn.

Our approach to executive development ensures:

Executive Coaching

Riverstone specialises in coaching and supporting executives from all types of organisations. Typical coaching assignments are leaders who are: