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The Governance Revolution by Deborah Midanek

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Chapter 20 Choose the CEO Wisely and Actively Plan for Succession

Choose the CEO, monitor his or her performance, and have a succession plan in case the CEO becomes unavailable or fails to meet performance expectations.

It follows from the above that the integrity and dedication of the CEO is vital to enabling the board to meet all of its responsibilities. The board and the CEO embody a symbiotic relationship, in which each depends on the actions of the other. If and when concerns about the CEO’s actions, ability, or integrity arise, the board cannot allow the issues to fester. Raise worries in executive session or privately with the chair or lead director. Together you may decide whether any further knowledge or action is required, and when. ...

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