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Industry Mapping in the recruitment process for a CEO of public corporation.
Large multinational, public corporation, promoted their Romanian CEO to a global role. While working on the replacement strategy, the board’s succession committee decided that optimizing the time available for the recruitment process was one of their major priorities.
Consequently, our appointed consultant presented the committee with a strategy that involved approaching multiple channels consecutively:
- publicly announce the search (as the compliance procedures required); this secured transparent, equal chances in the competition for both internal and external candidates;
- prepare the internal ad interim CEO;
- map the market, as a risk-management measure, an early preparation for a potential direct search for the successor.
We agreed on a talent mapping process within 3 major coordinates: speed, creativity and accuracy.
Pinpointing the concrete potential of the candidates proved to be very useful from multiple perspectives:
- properly addressed the risk of a delay in the replacement of the CEO,
- ensured the board that they had the comfort of multiple choices available before appointing the new CEO;
- provided the board with a clear map of the market that allowed them to benchmark their position against the larger competition.