Research suggests that corporate directors who serve at a company for eight or more years are likely to encounter a CEO search during their tenure of board service. Recruiting, motivating, evaluating, and attracting a successor for the CEO position is one of the foundational duties of the board-not to mention, a process that can't be taken lightly.
Sara Hays, a board member with Apogee Enterprises Inc., had the opportunity to chair the CEO search committee for her board. From forming the committee to selecting a search firm to interviewing candidates, Hays outlines key steps within the board's CEO search process. As chair of the search committee, she describes the intricacy of her project management responsibilities and explains how both preparation and communication exponentially improve the board's chances of getting it right.