In an era of seismic shifts, from climate to technological upheavals, boards must do more than keep pace – they must lead the charge. However, future readiness doesn’t come from compliance or ticking boxes; it requires boards to step back regularly, scrutinise their decisions, and question how they arrived at them.

According to German Herrera, U.S. managing partner, nearly three-quarters of CEO appointments the firm facilitates are internal. "Bringing somebody from the outside directly into the CEO role is very traumatic. Unless there’s a big change, a big turnaround, or a significant issue, boards don’t want to take that risk," he explains.

As German Herrera, Egon Zehnder's U.S. leader, highlights in Fortune, it is essential to move away from checkboxes of experience and focus on traits such as curiosity, self-learning, the ability to connect the dots, and more.

Effective succession planning is more than just preparing for leadership changes—it's a strategic investment in your organization's future. By fostering leadership development, mitigating risks, and ensuring business continuity, succession planning helps companies build resilience, retain top talent, and maintain a competitive edge. Discover why organizations that prioritize this process are better positioned to thrive in an ever-evolving business landscape.

Learn expert insight, tips, and best practices for developing your family business succession plan from the expert family planning consultants at Egon Zehnder.

"I was at a concert when it hit me: This is what effective succession looks like." Read on for the full piece by Lindsay Trout.

A recent Egon Zehnder study reveals that 80% of CEOs foresee "groundbreaking systemic changes" and emphasize collaboration with governments to address societal challenges. Climate change and AI are highlighted as key areas for fostering cooperation and driving positive transformation.

A majority of CEOs say they expect “groundbreaking systemic changes” within the next decade.

CEO succession planning often starts up to two years before the transition occurs. Do you have a strategy in place to support your leadership team?

Succession planning key insights that can make a significant impact when leading a new executive to the top of the organization.