How companies can avoid CEO hiring failure: Reference Checking

May 14, 2012
    

reference check

A recent article from FORTUNE made a great case for better reference checking:

"Some of the best companies in the U.S. have failed, very publicly, to rigorously check references on CEO candidates to ensure that they are the right fit for the company's challenges ahead. Yahoo learned this lesson the hard way last week ..."

"Companies must go beyond superficial referencing to determine what a candidate can contribute and how he or she aligns with the future imperatives and culture of the company. But unlike referencing for other senior executive positions, referencing for CEO contenders is tricky because in many cases the person up for the job has never been a CEO before."f the best companies in the U.S. have failed, very publicly, to rigorously check references on CEO candidates to ensure that they are the right fit for the company's challenges ahead. Yahoo learned this lesson the hard way last week..."

" When GlaxoSmithKline was planning for the departure of CEO Jean-Pierre Garnier in 2008, it supplemented its customary assessment with 14 interviews with internal executives who had worked directly or indirectly with all three internal CEO candidates. The questions were designed to assess the suitability for the CEO position, and feedback was shared with Garnier and the board. Now-CEO, Andrew Witty, while not the obvious choice at the time, emerged as a much better candidate than his competitors."

Full article here.

More on better reference checking: here.