CEO within: Why Inside Outsiders are the Key to Succession Planning

Description

With rising CEO turnover, companies are increasingly looking outside for qualified candidates. Sure, externally recruited CEOs bring fresh perspectives and connections. But they lack the in-depth knowledge of the company's culture and history that they need to succeed. Result? Many deliver disappointing performances. Companies can avoid this scenario, contends Joseph Bower in The CEO Within. Drawing on a decade's research (including interviews with leading CEOs) and experience managing the succession process, Bower explains how companies can develop a cohort of internal candidates--one of whom may be suited to the increasingly demanding CEO role. The key? Groom "inside-outsiders." These leaders view their role through the lens of someone who just bought the company--unencumbered by the cognitive and emotional baggage that comes from a long tenure in the organization. But they also leverage the knowledge they've accumulated about the company's people, suppliers and customers, and future direction. Placed squarely at the intersection of succession planning and leadership development, this book describes the distinguishing attributes of the inside-outsider and reveals how to recruit, nurture, and promote this special type of leader. With a healthy supply of qualified internal candidates, companies get the leadership they need--when they need it.

Joseph Bower is Professor of Business Administration at Harvard Business School. He has been teaching and researching general management and leadership for over 40 years. Bower has written dozens of academic articles, books, and cases. He is the author of 8 HBR articles--and has been recognised as a McKinsey Award winner (which commends outstanding work likely to have a major influence on executives worldwide).