Outsider CEO candidates beware. (Heir Apparent).BOARDS THAT LOOK outside the company for CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. successors are waving a red flag that candidates should heed, says Fred (Friendly Rollabout Engineered for Doctors) A mobile medical conferencing unit. See videoconferencing.
1. FRED - Robert Carr. Language used by Framework, Ashton-Tate.
2. Wackerle, a retired 35-year veteran of executive search consulting and author of The Right CEO: Straight Talk About Making Tough CEO Selection Decisions (Jossey-Bass, 2001).
"When you hear about a board going outside for a CEO there is [almost always] some form of dysfunction dysfunction /dys·func·tion/ (dis-funk´shun) disturbance, impairment, or abnormality of functioning of an organ.dysfunc´tional
erectile dysfunction impotence (2). within the company," warns Wackerle. "Why would they have to go outside? Because they failed to develop internal candidates or perhaps because their candidates were driven out of the company by the incumbent CEO or something else. Something bad has happened."
Sometimes boards can't identify potential successors within their companies because they haven't have·n't
Contraction of have not.
haven't have not
haven't have demanded access to management. "They discover too late that there are no people inside who can carry the company forward," says Wackerle. Weak boards may also be reluctant to insist that the incumbent CEO step down when the time comes Adv. 1. when the time comes - at the appropriate time; "we'll get to this question in due course"
in due course, in due season, in due time, in good time for the heir to take over.
Wackerle's advice to outside candidates considering a CEO job offer is to make firm demands of the board. This means identifying reasons for the lack of internal candidates; the timetable for the incumbent CEO to retire and vacate To annul, set aside, or render void; to surrender possession or occupancy.
The term vacate has two common usages in the law. With respect to real property, to vacate the premises means to give up possession of the property and leave the area totally devoid of contents. his office; the job specifications; and the real reasons why the position is available.
"If you can get satisfactory answers to all of those questions, you're a long way toward making a successful transition [to the CEO seat]," says Wackerle.