We advise Boards and CEOs on how to implement best practices across all stages of the CEO succession cycle. We bring to the process a high level of objectivity, rigor, and a research-grounded approach based on thousands of CEO and C-suite assessments and hundreds of CEO transitions. Our clients value the partnership of our succession experts in de-risking and navigating through the unique set of circumstances of a CEO transition.
Long-term partnership in CEO succession for major pharmaceutical firm
Situation & challenge
- Our client was a multinational pharmaceutical company planning ahead for the next CEO transition
- The Chairman and CEO initiated the process 5 years before the actual event with appropriate Board engagement
- They sought support in defining the future CEO profile and assessing potential candidates to groom as successors
- ghSMART engaged with the client long-term, from planning to execution
Scope of work
- ghSMART partnered with the CEO, CHRO and Board to drive a disciplined succession process with continuous stakeholder engagement
- We co-created a strategic, future-oriented CEO profile
- Against this profile, we assessed 4 internal candidates for targeted development with SmartAssessments®
- We created tailored development plans for those candidates with CEO potential
- As the field narrowed, we provided executive coaching to accelerate readiness of the lead candidate
- In the final stage, we supported the new CEO for a successful launch
Impact and results
- The new CEO was set up for success and able to successfully undertake bold initiatives in year one
- The assessment and development work allowed an objective perspective, opening up the process to previously overlooked candidates
- The overall process was transparent, data-driven, and engaged the stakeholders effectively, ensuring a smooth succession
"No investment is more important than building our teams, and ghSMART helps us do it right."
"I have worked with ghSMART for over 10 years while I was Chairman and CEO of AMETEK Inc. Our biggest challenge was in sourcing and developing leadership, while growing at a very rapid rate. ghSMART was instrumental in their assessments of potential candidates to facilitate the selection and subsequent onboarding of top tier individuals for high level positions. The ghSMART methodology is superb."
"When FORTUNE broke off from Time Inc., we needed to build a high functioning team, much of it from scratch. ghSMART made it possible for us to do that. In an economy where talent is the most important resource, ghSMART understands that resource, and how to get the maximum from it, better than anyone else I know."