About 10% of S&P 500 companies change CEOs annually. Behind these appointments are often years of intricate preparation grooming successors. We regularly get approached by CEOs and boards who find it challenging to groom the right candidates and look for effective approaches to develop the next CEO.
Unexpected Companies Produce Some of the Best CEOs
Who they are and how they do it.
January 10, 2020
Summary.
It is tempting to assume that the largest academy companies like GE and McKinsey have an edge when it comes to developing talent. As part of ghSMART’s CEO Genome research, we discovered that some surprising companies produce remarkable numbers of CEOs. Moreover, the CEOs these companies produce tend to perform well, thanks in part to the leadership development practices the companies embrace. We estimate there are over a dozen “stealth CEO factories” across a range of industries and geographies; these include Medtronic, Rohm and Haas, and Danaher. This study shows they do this by giving leaders broad authority; encouraging them to think like CEOs; and challenging strong performers early with big opportunities.
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New!
HBR Learning
Leading People Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Leading People. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
What you need to know about being in charge.