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KPMG KPMG 12 12 t h t h People People Management Management Symposium Symposium Internal

KPMGKPMG 1212 thth PeoplePeople ManagementManagement SymposiumSymposium

Internal Successions:

The role of HR

MarshallMarshall

GoldsmithGoldsmith

The role of HR Marshall Marshall Goldsmith Goldsmith Marshall@MarshallGoldsmith.com

Marshall@MarshallGoldsmith.comMarshall@MarshallGoldsmith.com

www.MarshallGoldsmithLibrary.comwww.MarshallGoldsmithLibrary.com

Marshall@MarshallGoldsmith.com www.MarshallGoldsmithLibrary.com www.MarshallGoldsmithLibrary.com
Goals for today • Review the human challenges in top executive succession. • Discuss the

Goals for today

Review the human challenges in top executive succession.
Discuss the role of key stakeholders in the succession process.
Share ideas on how executives can effectively coach – or unconsciously sabotage – their successors.
Share ideas for preparing the successor for the succession process.

unconsciously sabotage – their successors. • Share ideas for preparing the successor for the succession process.
Publications • Succession: Are You Ready, Harvard Business Press, February 2009. • “How Not to

Publications

Succession: Are You Ready, Harvard Business Press, February 2009.

“How Not to Lose the Top Job”, Harvard Business Review, January 2009.

Harvard Business Press, February 2009. • “How Not to Lose the Top Job”, Harvard Business Review,

CEO succession – a human process

Self – interest Ego Emotion Involving many key stakeholders

CEO succession – a human process • Self – interest • Ego • Emotion • Involving
CEO succession – a human process • Self – interest • Ego • Emotion • Involving

Passing the baton of leadership

The relay race It is hard when you are winning It is harder when you are losing

baton of leadership • The relay race • It is hard when you are winning •
baton of leadership • The relay race • It is hard when you are winning •
Creating a great rest of your life • Three sessions, 24 executives • Frances Hesselbein,

Creating a great rest of your life

Three sessions, 24 executives

Frances Hesselbein, Alex Von Bitter and me

No formal structure, 1 ½ days

“What am I going to do for the rest of my life?”

Alex Von Bitter and me • No formal structure, 1 ½ days • “What am I

Letting go is hard to do

Wealth

Status

Perks

Power

Relationships

Happiness

Contribution

•
Letting go is hard to do • Wealth • Status • Perks • Power • Relationships

Key learnings

No one to talk with

Three key success factors:

Meaning

Contribution

Happiness

Success and failure stories

talk with • Three key success factors: – Meaning – Contribution – Happiness • Success and
talk with • Three key success factors: – Meaning – Contribution – Happiness • Success and

The three roles in the final year

The three roles in the final year • A. Running the business • B. Developing your

A. Running the business

B. Developing your successor

C. Creating a great ‘rest of your life’

Start with ‘A’ – go toward ‘B’ – finish with ‘C’

• C. Creating a great ‘rest of your life’ • Start with ‘A’ – go toward
Why developing internal successors is worth the effort • The cost of external failure •

Why developing internal successors is worth the effort

The cost of external failure

Leadership development by example

Leaving a legacy

Supporting key relationships

cost of external failure • Leadership development by example • Leaving a legacy • Supporting key
Key relationships in CEO succession • The CEO • Peers • Direct reports • Analysts

Key relationships in CEO succession

The CEO
Peers
Direct reports
Analysts / shareholders
Customers The Board

•
The CEO • The ‘lame duck’ issue • If the CEO doesn’t like you –

The CEO

The ‘lame duck’ issue

If the CEO doesn’t like you – it probably won’t happen

Managing the complexities of the CEO – successor relationship

The panic at the end of the process

happen • Managing the complexities of the CEO – successor relationship • The panic at the
Peers • The competition factor • The need to continue the company’s leadership team •

Peers

The competition factor

The need to continue the company’s leadership team

The balance between ‘not leading’ and ‘being too pushy’

need to continue the company’s leadership team • The balance between ‘not leading’ and ‘being too
Direct reports • The unique challenges of the COO • The balance of ‘turn around’

Direct reports

The unique challenges of the COO

The balance of ‘turn around’ and ‘treat people with respect’

When your direct reports are the CEO’s friends

balance of ‘turn around’ and ‘treat people with respect’ • When your direct reports are the
Analysts - shareholders • How analysts can impact succession • New activism • What about

Analysts - shareholders

How analysts can impact succession

New activism

What about Carl or Kirk?

Balancing ‘go for it’ and ‘honest projections’

succession • New activism • What about Carl or Kirk? • Balancing ‘go for it’ and
Customers • Transactional or relationship • How they can impact succession

Customers

Transactional or relationship How they can impact succession

Customers • Transactional or relationship • How they can impact succession

The Board

The final vote

How miscommunications occur

The Board member who wants to be CEO

The Board • The final vote • How miscommunications occur • The Board member who wants
The Board • The final vote • How miscommunications occur • The Board member who wants
The CEO as coach • When it can work • Why some CEO’s don’t want

The CEO as coach

When it can work

Why some CEO’s don’t want to be coaches

Working with an external coach

The CEO as ‘coach facilitator’ not ‘coach know it all’

to be coaches • Working with an external coach • The CEO as ‘coach facilitator’ not
Summary and discussion • What are your succession challenges? • Final questions

Summary and discussion

What are your succession challenges? Final questions

Summary and discussion • What are your succession challenges? • Final questions