CEO MENTORING - PREPARING TO LEAD
BACKGROUND
One of the Board's most important responsibilities is to appoint the best possible CEO, ensure optimal functioning and replace the incumbent if performance becomes unsatisfactory. Grooming of internal 'ready now' candidates is essential to ensure smooth transitions - investors don't like surprises from unprepared Boards.

However, every first-time CEO will be confronted with the most significant change in his or her professional life when appointed to the ultimate executive leadership role. Strategic and financial thinking becomes more detached, relationships with former peers and colleagues are transformed and dealing with investors, analysts and media takes on a different dimension. The relationships with the Non-Executives and the Chairman change materially.

In summary, life suddenly becomes very lonely in the new role. This is a pivotal stage in an individual's career and can have a significant impact on the fortunes of the company.

CEO MENTORING
Our answer to the above challenge is to let internal candidates, or the heir apparent, be mentored by very experienced former CEOs, now appointed as Chairmen. By thus managing the final stage of the preparation process, the Board will not only confirm its intention to invest in the individual executive's development but will also increase the odds of success once appointed.

CMi's CEO Mentoring programme is designed to enable internal CEO candidates to anticipate how to deal with behavioural and social interaction issues more effectively from the outset.

Engaging external CEO Mentors does not substitute the Board's and incumbent CEO's responsibilities to nurture and support the internal candidate(s). It merely complements a well-managed transition process because it allows each candidate to bring up issues that he or she may not feel comfortable raising internally with the CEO, Chairman or other Directors at the company. It also provides opportunities to solicit confidential second opinion with a neutral seasoned former Chief Executive on key issues that are likely to be encountered in the new role.

The process remains completely confidential throughout the programme, i.e. no formal feedback from the Mentor should be expected by the Mentee's Chairman, CEO or Board. This is absolutely essential in order to be fully effective.

Once appointed the new CEO continues the relationship with the Mentors during the early stages of the new tenure. Often the relationship between Mentor and Mentee continues well beyond the term of the engagement, frequently becoming a lasting and valued friendship of mutual benefit for the years ahead.

This value proposition is equally suited for external first-time CEOs, albeit from a different starting point.