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New Research Shows Boards of Directors Too Passive in Developing CEO Successors
Study by Stanford, The Institute of Executive Development, and The Conference Board reveals a critical stumbling block in the succession process
March 12, 2014, STANFORD, Calif. — Internal candidates are the most likely to succeed a CEO, but new research reveals a critical stumbling block in the succession process: how well boards of directors know senior executives one level below the CEO and a lack of board involvement in talent development.
In this report we detail the results of our survey of more than 150 corporate directors of public companies in North America. The study results appear in the latest edition of Director Notes published by The Conference Board. Additional analysis of survey data and statistics regarding CEO turnover events at S&P 500 companies will be included in the 2014 edition of The Conference Board’s CEO Succession Practices, slated for release in early April.