The board must have a clear vision where the organization needs to go.
It’s always disruptive to a major company when, without warning, its CEO steps down. It’s doubly so if several senior executives have already left, either forced out or on their own accord. The company is then faced with a leadership vacuum at the very moment it needs strong leadership most.
A scenario like this made news recently at Intel, the multinational giant whose CEO, Brian Krzanich, resigned suddenly after five years at the helm. That was after several years’ worth of high-level management departures, raising concerns by analysts about leadership at the firm. Whether it’s Intel or any other company (there have been multiple similar instances over the last several years), the board has to assert itself, experts say. “The board must have a clear vision where the organization needs to go,” says Douglas Maxfield, a Korn Ferry senior client partner. “Then they need to work with leadership to identify people in the organization with the potential to take on larger, more complex roles and who have the traits, drivers and experiences to take the organization in that direction. Plans then need to be put in place to develop that talent internally or find it externally.”
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