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Foreword by

Douglas R. Conant

INSIDE CEO
SUCCESSION

THE ESSENTIAL GUIDE TO


LEADERSHIP TRANSITION
Tom Saporito & Paul Winum
Chairman & CEO, RHR International LLP

Senior Partner, RHR International LLP

Contents

Acknowledgments
Foreword: Douglas R. Conant, former CEO
of Campbell Soup Company
Introduction
Part I:

xiii
xv
1

Why CEO Succession Is More


Critical than Ever

Chapter 1:
Chapter 2:
Chapter 3:
Chapter 4:

From Checkers to 3-D Chess


Success or FailureThe Cause and Cost
Whose Job Is It, Anyway?
RHRs Essential Point of View

7
21
39
55

Part II:

The 10 Key Dimensions of


Effective Succession

71

Chapter 5:
Chapter 6:
Chapter 7:
Chapter 8:
Chapter 9:
Chapter 10:
Chapter 11:
Chapter 12:
Chapter 13:
Chapter 14:

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Establish Board Ownership,


Involvement, and Oversight
Set Succession Time Frames
Prepare for Emergencies
Align on Strategy and Profile
Build the Talent Pipeline
Source External Talent and
Manage Search Firms
Select the CEO
Proactively Manage the Transition
Measure Performance and Improve Process
Manage the Dynamics in CEO Succession

73
89
105
119
131
145
157
169
187
197

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xii

Epilogue: Perspectives on the Future


Appendix: Ten Questions a Director Should Ask
About RHR International
References
Index

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Contents

205
213
219
221
229

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Introduction

The business environment has undergone significant transformation


over the past several decadesprogressing from the relative simplicity
of commerce in the mid-twentieth century, to the market expansions
and consolidations of the 1980s and 1990s, to the global interconnectedness of our current era.
These volatile and chaotic times are demanding more from boards
and company leaders than at any other time in history and, to ensure
the continuity of business, the selection and transitioning of a companys CEO has been elevated to the most important undertaking
an organization can engage in.
With the complexities involved in selecting and transitioning the
chief executive increasing with each passing decade, the mindset of
the past and the methods used then are, in many ways, inadequate
for ensuring success in todays business climate. We have all seen the
results of this insufficiency played out too often in the business press
with news of companies struggling to survive failed leadership.
Public scrutiny of business and management has certainly accentuated the issue and shareholders have become acutely aware of the
need for greater discipline in CEO succession planning. Change
in a companys management is now one of the most important
areas for investors to follow. Shareholders are also beginning to
realizeespecially given the high-profile departures and dismissals
of CEOsa greater need for corporate governance and that CEO
succession planning depends, in large part, on an established process originating at the board level.
Many boards today are quite conscious of the growing demand
and their obligation. They are a) more keenly aware of the need for
CEO succession planning than their predecessors, and b) more prepared, with succession plans and processes firmly in place. However,
even with all this awareness and preparedness, directors are still
beleaguered, to varying degrees, by the relational dynamics and personal emotions that attend every step of the succession planning

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Inside CEO Succession

processfrom candidate development, to final selection, to the


transfer of power, to the integration of the new CEO.
In our years of experience, we have concluded that addressing
and managing the psychological forces and organizational dynamics
are what truly defines best practice and success in CEO succession
planning. Yet, there is very little support and insight offered to companies on how to best undertake succession planning and navigate
the emotions that attend every step of the process.
Inside CEO Succession offers that very guidance. We take you
inside the essential steps required to establish a best practice in
succession planning, inside the relational dynamics among board
members and between the board and the CEO, and inside the personal emotions that sway and influence even the most experienced
executivesan often-overlooked aspect of the success or failure of
the succession process.
Another critical distinction of our practice, illustrated throughout
this book, is our belief that CEO succession is more than a boards
responsibility. Although the board is accountable for the process,
we strongly believe that there must be a partnership between board
and CEOa partnership built on personal authenticity and trust.
Best practice can only be achieved when board and CEO reach an
understanding of involvementa division of labor orchestrated by
the board and adhered to by both parties.
Inside CEO Succession is the culmination of approximately 70 years
of providing expert counsel to boards and management on how to
best manage the succession planning process and ensure the substance
and effectiveness of its leadership. We have gained as much as we have
given. Fundamental to our experience is the invaluable education
we have received from our clients over the yearsfrom board members, to CEOs, to future leadersinsightful lessons shared within
these chapters.
Over the past five years, our firm RHR International has undertaken an extensive program of primary research, annually surveying
hundreds of board members of top companies across a variety of
industries on their views on succession planning. We have conducted
in-depth interviews with board chairs and lead directors to understand
their approach to succession planning and what factors contribute to
both good and poor outcomesalso shared in the pages that follow.

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Introduction

Additionally, and as a finger on the pulse of contemporary business, we present examples of high-profile companies, pulled directly
out of todays business press, illustrating both success and failure in
the succession and transitioning of leadership.
Inside CEO Succession is a unique mixture of business experience
and educational training: a blend of process and perception. While
our 10 Key Dimensions of Succession Planning provide an essential
guide for establishing a best practice in succession planning, our
experiences as doctoral-level psychologists grounds us in assessing and
addressing the social-psychological factors of ego, role-relationships,
power, and emotion associated with relinquishing leadership, preparing successors, and ceding power and authority to others.
If properly attended to and thoughtfully executed, CEO succession
can offer a company far more than the transitioning of its top leader.
CEO succession can enable companies to envision new opportunities
for growth, to realign and strengthen processes and systems throughout
the enterprise, and propel companies to greater results in the service
of their missions.
Thomas J. Saporito
Paul Winum

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Index

A
academy companies, 11
military model, 11
Acer, 125
acquisitions, 11, 3132, 33, 35,
41, 127, 132, 133, 189
Acton, Lord, 75
Acuity Brands, Inc., 47
Advanced Micro Devices (AMD),
12425
advertising, 12021
agenda, 5, 16, 19, 28, 53, 62,
7677, 80, 86, 88, 90, 99,
127, 18081, 188, 193, 194,
199, 217
Akers, John, 2829
ambition, 75, 76, 133, 175
American Express, 12, 14, 28
analysts, 14, 27, 55, 58, 73, 85,
97, 106, 120, 121, 124, 134,
147, 172, 173, 177
Anderson, Brad, 169
annual review, 85
AOL, 13334
Apotheker, Leo, 31, 32, 108,
121, 161
Apple, 1718, 8587, 114
Applebees, 99
Arrow Electronics, 101, 119, 167
Ashenhurst, Harry, 149
assets, 5, 33, 41

BINDEX.indd 229

AT&T, 8, 11, 157


authority, 41, 53
ceding, 3, 172, 202
Autodesk Inc., 120
automotive industry, 22, 97, 115
Avon Products, 17778

B
baby boomers, 205
Balloun, James, 4748
Banga, Ajay, 27, 49, 17475
Bank of America Corporation,
17, 157
Barrons, 2627
Bartz, Carol, 120
Behavioral Requirements, 159,
160, 162, 163
Bell, Charles, 3031, 106
Berkshire Hathaway, 86
Best Buy Co., 169
Big Blue, 154
blogging, 910, 16
board,
accountability, 2, 26, 53, 71, 73,
87, 213
chairs, 2, 74, 76, 81, 82, 92,
95, 100, 10203, 166, 194,
200
committee structure, 190, 196
competing agendas, 62, 127,
194

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230

board (continued)
consensus, 49, 119, 120,
12122, 123, 124, 125,
12627, 129, 131, 133,
167, 194
discussion guide, 4041, 162
emergency succession, 45, 46,
61, 10611, 11213, 115,
11617, 193, 194, 200, 214
failure, 11, 28, 29, 36, 40, 44,
53, 58, 84, 92, 194
governance memory, 6667
knowing-doing gap, 42
meetings, 61, 157
relational dynamics, 12, 68,
71, 195, 197, 198, 202,
203, 217
survey questions, 40
Boeing Commercial Airplanes,
3436, 97, 116, 133, 147
ethics scandals, 35, 133
Bower, Joseph, 153
Buffett, Warren, 24, 86
Burke, James, 30
business,
climate, 1, 10, 15, 16, 1920
continuity, 5, 30, 32, 39, 40, 41,
42, 44, 45, 46, 66, 6869,
88, 173, 182, 183, 193, 194,
200, 206, 208
landscape, 12, 20, 26, 77,
96, 103
model, 97
press, 1, 3, 51, 123,
brand, 86, 109, 132, 178
Brandywine Realty Trust, 19
Brazil, 210

BINDEX.indd 230

Index

C
Campbell Soup Company, 46,
98, 109
candidate,
assessments, 65, 15960
interviews, 42, 43, 65, 159, 160,
162, 166
previous employer, 166
references, 16567, 168, 192
Cantalupo, Jim, 30, 31, 106
capital, 5, 27, 145
Case, Steve, 13334
Central Laborers Pension Fund,
1718, 85
CEO,
failure, 24, 32, 33, 39, 66, 93,
115, 132, 149, 189
global, 211
incoming, 9, 6566, 87, 93,
94, 102, 109, 161, 169,
171, 17273, 174, 176,
177, 178, 180, 181, 183,
184, 185, 187, 191,
19293, 194, 20203,
208, 209, 216
integration, 12, 24, 27, 3940,
45, 66, 79, 9394, 102, 134,
153, 167, 170, 178, 179,
18182, 208, 209, 216
outgoing, 61, 66, 75, 76, 81, 93,
103, 167, 170, 17273, 174,
176, 177, 179, 184, 187,
190, 194, 202
selecting, 1, 19, 41, 55, 5657,
71, 75, 81, 88, 123, 149,
150, 158, 175, 193, 194,
201, 215

27/07/12 1:42 PM

Index

selection committee, 193


tenure, 9, 1112, 15, 22, 27,
28, 2930, 31, 32, 34, 35,
46, 64, 66, 73, 80, 89, 93, 95,
96, 100, 103, 109, 110, 123,
124, 125, 127, 132, 148,
153, 170, 18889, 190, 196,
199, 208, 213
transitioning, 1, 3, 5, 16, 19,
20, 26, 30, 36, 37, 41, 43,
57, 58, 60, 66, 67, 69, 71,
76, 77, 80, 88, 93, 103,
167, 169, 17071, 172, 175,
183, 184, 185, 202, 203,
208, 216
twenty-first century, 205,
20607
character-building, 136, 139, 141,
142, 143
Chief Executive, 36, 4041, 159
chief executives, 1, 7, 13, 23, 27,
31, 47, 48, 49, 50, 51, 6869,
137, 138, 160
long-serving, 9
Chief Financial Officer (CFO), 91,
99, 114, 164, 166, 190
succession candidate, 7778,
91, 92
China, 28, 210
Chrysler, 12
Citibank, 12
Citicorp, 174
Citigroup, 27, 174
Citrin, James, 179
clients, 2, 40, 53, 55, 149
CNNMoney, 3132
Colgate-Palmolive, 101, 167

BINDEX.indd 231

231

collateral debt obligations, 123


collective vision, 62
command-and-control leadership,
23, 132
commerce, 1, 8, 14, 19
modern, 9
committee, 49, 59, 76, 78, 99,
109, 157, 190
chartered, 67, 76, 77, 78,
87, 102, 161, 178, 193,
196, 216
communication plan, 112, 113,
117, 167, 177
communications, 86, 88, 110,
11213, 117, 171, 176
Companys Corporate Governance
Guidelines, 85
competition, 8, 9, 11, 90, 124,
125, 183
Japanese, 1213
Conant, Douglas, 46, 98
Condit, Phil, 3435, 133
confidence,
decline in, 1315
consumer activists, 84
consumer groups, 9, 14, 16, 53,
73, 86, 189
continuity, 1, 5, 8, 14, 15, 16, 18,
20, 29, 30, 32, 36, 39, 40, 41,
42, 44, 45, 46, 6566, 68, 69,
73, 77, 78, 88, 100, 102, 103,
126, 142, 170, 171, 173,
182, 183, 192, 193, 194,
200, 206, 208
corporate,
governance, 1, 14, 17, 21, 22,
58, 73, 85

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232

corporate (continued)
growth, 13132, 161
vision, 121
corporation, 9, 14, 15, 16, 17, 18,
19, 30, 39, 73, 7576, 77,
87, 88, 89, 91, 105, 138, 139,
149, 157, 194
multinational, 16
cost cuts, 3132
Countrywide Financial, 33, 189
credit derivative swaps, 123
CtW Investment Group, 105
customers, 8, 16, 44, 62, 93, 106,
107, 112, 113, 115, 117,
121, 141, 145, 172, 173,
180, 185, 200

D
DAlessio, Walt, 19
Davis, Dr. Richard, 135
The Intangibles of Leadership,
135
Dell, 125
Delta Airlines, 78
developing, 28, 35, 71, 81, 83,
94, 103, 108, 127, 129, 130,
132, 145, 152, 155, 156,
171, 177, 185, 193, 195,
199, 205, 206, 208
Digital, 12
directors, 1, 2, 7, 89, 13, 16, 19,
23, 25, 26, 27, 28, 29, 31,
33, 36, 4043, 4546, 49,
52, 55, 56, 5859, 6061,
63, 66, 67, 68, 74, 75, 76,
7980, 81, 83, 84, 85, 86,
87, 88, 90, 9192, 93, 96,
100, 103, 105, 106, 107,

BINDEX.indd 232

Index

111, 112, 115, 116, 117,


119, 121, 122, 123, 124,
126, 127, 129, 130, 131,
139, 157, 159, 162, 165,
166, 17071, 172, 176, 179,
181, 183, 189, 194, 199,
200, 201, 202, 208, 213,
216, 217
disclosure proposal, 8586
distribution, 9, 28, 154
distributors, 89
division of labor, 2, 71, 80, 213
Drucker, Peter F., 187
Duval, Daniel W., 119

E
eBay ,121
educational training, 3, 30, 141
ego, 3, 5, 7, 19, 23, 53, 57, 68,
76, 197
Einstein, Albert, 146
emergency plane, 109, 117, 214
emerging markets, 28, 124,
15455, 176, 177, 210
emotional dynamics, 49
employee,
morale, 111, 115, 126, 200
motivation, 106
productivity, 106, 200
employers, 10
Enron, 22, 208
enterprise, 20, 29, 30, 41, 5657,
80, 82, 121, 138, 207
evaluation process, 63, 83, 188
executive search consultants, 151
executives,
top company, 175
Exelon Corporation, 19

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Index

external talent, 64, 92, 94, 115,


128, 129, 13637, 14647,
148, 149, 150, 151, 15253,
154, 155, 156, 198, 200,
215
benchmarking, 158, 192

F
Facebook, 120
failure, 2, 3, 5, 11, 14, 15, 16,
18, 22, 2324, 26, 3136,
37, 3940, 4243, 53, 63,
64, 66, 6869, 71, 84, 93,
106, 115, 120, 132, 134,
13940, 169, 170, 172, 175,
179, 189
Fasolo, Peter, 84, 128
favoritism, 49
Fiorina, Carly, 3132, 108
Ford, Henry, 197
Ford Motor Company, 21, 35,
97, 115
Ford, William Clay Jr., 21
foreign markets, 12
Fortune 500, 8, 10, 22, 23, 41, 43,
73, 77, 206, 208, 209
Fortune 100, 14, 16, 21
Fortune 1000, 14
franchisee meetings, 99

G
Galli, Joseph Jr., 3334
Gates, Bill, 86
General Electric (GE), 11, 109,
110, 145, 146, 153
General Motors (GM), 12,
14, 28
Gerstner, Louis, 29, 142, 147, 148

BINDEX.indd 233

233

global business environment, 90


Global Foundries, 125
global stage, 11
globalization, 15, 145
Goldman Sachs, 51, 133
Google, 120
Governance and Nominating/
Compensation Committee,
76
government regulation,
greater, 22
limited, 9
regulators, 53, 86
Great Depression, 8, 10
economic boom, 8, 22
Grocery Manufacturers
Association (GMA), 5051
growth, 8, 9, 12, 20, 22, 27, 30,
3132, 36, 53, 57, 62, 69,
82, 9091, 96, 99, 103, 120,
124, 125, 13132, 140,
157, 161, 184, 201, 203,
210, 211

H
Hackett, James P., 7, 13, 48
Hanson, John Nils, 39, 50, 95,
138, 139
Harnischfeger Corporation,
138, 139
Harvard, 133, 153
Hassan, Fred, 178
health-related issues, 23,
11315
high-profile departures and
dismissals, 1, 17
Hill, Lloyd, 99
Hockaday, Irvine Jr., 97

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234

HP, 11, 3132, 111, 121, 125


Compaq merger, 31
HR, 4748, 78, 135, 143, 148,
175, 190, 192, 201
Hurd, Michael, 31, 32, 108

I
IBM, 11, 12, 14, 2829, 109, 142,
14748, 154
identity, 9, 166, 172
Independence Blue Cross, 19
India, 28, 210
Inside Outsiders, 153, 154
integration process, 27, 18182
Intel, 124
internal talent, 24, 34, 4243, 49,
5051, 61, 64, 80, 115, 150,
152, 200, 210
Internet, 16, 120, 12526,
13334
Interview Protocol, 16164,
166, 168
investors, 1, 17, 2122, 27, 33,
58, 7374, 84, 86, 106,
107, 10809, 112, 113,
120, 121, 124, 170, 172,
173, 177, 180, 185, 189,
190, 200
iPad, 125

J
Jacksonville, Illinois, 17, 85
Jager, Durk, 154
James, Donald, 8081
Jobs, Steve, 17, 85, 86, 114
Johnson & Johnson, 2930, 43,
51, 78, 84, 109, 128, 141, 146
Tylenol crisis, 30

BINDEX.indd 234

Index

Jones, Reginald, 153


Joy Global, Inc., 39
Jung, Andrea, 17778

K
Ketchum, Mark, 34
key customers, 93, 112, 117,
172, 180
King, Jr., Dr. Martin Luther, 131
Kmart, 12
Kodak, 12, 14, 28
Kohlberg Kravis Roberts &
Company (KKR), 84, 128

L
labor, 9, 34, 209
division of, 2, 71, 80, 213
Lafley, A.G., 154
Lanci, Gianfranco, 12526
Larsen, Ralph, 2930
Lawless, Robert, 2728
Leader Profile, 9091, 193
leadership development, 56, 67,
7778, 87, 111, 115, 116,
127, 132, 134, 136, 137,
139, 14042, 143, 148, 151,
152, 153, 175, 18889,
192, 194, 200, 210, 211,
215, 216
leadership talents,
long-term, 90, 127, 130
legacy, 5, 7, 19, 28, 53, 81, 82, 97,
100, 173, 184, 194, 201
Lenovo, 125
Lewis, Ken, 17, 3233, 84,
10506, 189
litigation, 9
Lockheed Martin, 35

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Index

M
management,
middle, 52, 209
senior, 5152, 85, 99, 112, 129,
131, 136, 139, 143, 147,
151, 152, 15455, 175, 176,
177, 179, 182, 190, 196,
198, 202, 206, 209, 217
market,
dynamics, 11
expansions, 13, 31
international, 90
performance, 32, 60, 108, 120
position, 20, 37, 57, 61, 62,
106, 115, 129, 170, 200
sector, 13
share, 9, 13, 58, 153
value, 14, 26, 33, 36, 3940,
62, 111, 120, 177
MasterCard Inc., 2627
Maxwell, John C., 55
McColl, Hugh, 3233
McCormick & Company Inc.,
27, 109
McDonalds Corporation, 3031,
105
Plan to Win, 10809
McDonnell Douglas, 35
McDonough, John, 3334
McNerney, Jim, 35
media, 9, 16, 17, 22, 86, 11213,
117, 13334, 147, 172, 173,
178
Medtronic, 30
Mercedes, 1213
mergers, 1112, 14, 132
Merrill Lynch, 33, 133, 189
Meyer, Dirk, 12425

BINDEX.indd 235

235

Microsoft, 86
Mitchell, David, 178
Molpus, Manly, 5051
Moments of Truth, 13637,
138, 143
mortgage back securities, 123
Moynihan, Brian, 106, 189
Mulally, Alan, 21, 3536, 9798,
115, 116, 147, 148
Mullin, Leo, 5152, 78

N
Neff, Thomas, 179
networks, 22, 206
Newell Rubbermaid, 3334, 52, 89
merger, 34
news, 1, 16, 10708, 114
cable news channels, 22
Nippon Steel, 11
Northwestern University, 10
Noski, Charles, 15758

O
objective data, 5, 19
obstacles, 7, 174
ONeal, Earnest Stanley, 133
Oppenheimer, Peter, 114
organic growth, 3132

P
Palm, 121
Palmisano, Sam, 29, 142, 154
partnership, 2, 56, 60, 67, 71,
74, 79, 80, 81, 82, 88, 90,
10203, 111, 113, 11516,
117, 124, 126, 130, 131,
140, 15758, 179, 180, 188,
195, 198, 199, 213, 214, 216

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236

Patrick, Stephen, 101, 167


Patterson, William, 105
Pennsylvania Real Estate
Investment Trust, 19
personal agendas, 5, 19, 53, 217
personality conflicts, 74, 76, 122
Pfizer, 30
Poland, 28
Polk, Michael, 34
power, 12, 3, 5, 7, 17, 19, 43,
53, 57, 68, 7576, 87, 100,
107, 128, 137, 17273, 177,
178, 182, 184, 197, 202,
20607
ceding, 3, 178
Preston, James, 178
procedures, 5, 19, 67, 112,
153, 15455, 191, 192,
195, 216
Procter, William, 154
Procter & Gamble, 11, 30, 146
product innovation, 28, 12021
profit-and-loss centers, 30, 141
Prospect City, Inc., 151
psychological forces, 2, 5, 7, 20,
25, 53, 5758, 74, 124, 173,
194
psychological stress points, 19
PwC Consulting, 142

R
Read, Rory, 125
regulators, 17, 53, 73, 85, 86,
189
reports,
direct, 79, 83, 88, 164, 166,
168, 201
non-direct, 83

BINDEX.indd 236

Index

retirement, 9, 1314, 35, 4647,


84, 8990, 95, 99, 103, 110,
174, 199, 206
RHR International, 2, 8, 4041,
5569
relinquishing leadership, 3
role-relationships, 3
Rometty, Virginia Ginny, 29,
142
Ruiz, Hector, 124
Russia, 210

S
S&P 500, 30, 33
sales meetings, 99
Santayana, George, 187
Sarbanes-Oxley Act (2002),
2122, 40, 208
SAP, 31, 121, 161
search firm, 64, 14850
Sears, 12
Securities and Exchange
Commission (SEC), 17,
22, 60
Selander, Robert, 2627, 17475
share repurchasing programs, 41
shareholder assets, 41
shareholders, 1, 13, 14, 17, 18,
22, 53, 55, 57, 58, 60, 73,
8485, 87, 99, 10506,
112, 113, 11415, 141,
147, 162, 176, 177, 189,
202, 208
Shrontz, Frank, 3435
Silicon Valley, 120
Skinner, James Jim, 30, 31, 105,
106, 108
Sony, 11, 146

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Index

South Korea, 210


spokesperson, 112
stakeholders, 8, 15, 16, 40, 43, 45,
46, 49, 61, 68, 74, 76, 85,
93, 94, 113, 135, 143, 161,
166, 171, 176, 177, 178,
180, 184, 185, 190, 198, 209
external, 75, 76, 167, 176, 183
internal, 16, 75, 147, 150, 176,
183
Steelcase Inc., 7, 13, 48
Stein, Robert, 151
stock,
buybacks, 3132
options, 13
price, 14, 16, 27, 3132, 34,
44, 64, 107, 109, 120,
161, 175
splits, 41
value, 20, 32, 58, 100, 103,
115, 121, 177
strategic direction, 13, 24, 25,
27, 34, 36, 59, 62, 64, 69,
75, 77, 8687, 88, 90,
9596, 103, 108, 111, 117,
121, 123, 124, 125, 127,
130, 131, 145, 15758, 161,
170, 177, 180, 181, 183,
184, 214
succession time frame, 95, 102, 198
successor,
compensation, 25, 40, 41,
4243, 64, 86, 99, 100, 116,
17576, 208
internal, 14, 16, 25, 77, 78, 95
outside, 24, 28, 31
potential, 10, 42, 63, 78, 83, 86,
91, 98, 111, 15960, 201, 202

BINDEX.indd 237

237

surveillance, 16
suppliers, 89, 16, 145, 154, 173,
180, 185

T
talent,
pipeline, 63, 6768, 129, 131,
13435, 140, 143, 148, 151,
15455, 198, 203, 217
pool, 63, 154, 210
Tandy, 12
Tarnished Asset Relief Program
(TARP), 33, 189
Texas Instruments (TI), 125
The Credo, 141
The Global Standards of
Leadership, 141
The Silent Generation, 10
The Winning Formula, 79,
16061, 191
Time Warner, 13334
Toyota, 11
traditional market segments, 8
transitioning,
knowledge, 208
leadership, 57, 172, 202
period, 169, 172, 185
transparency, 15, 17, 18, 47, 49,
50, 64, 151, 179
TravelMate, 125
Tybout, Dr. Alice, 10
Tyco, 22

U
understanding of involvement, 2,
71, 80, 213
Unilever, 34
union workers, 147

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238

United States, 10, 1213, 17, 33,


106, 205, 211
unplanned departure, 22, 24, 25,
36, 46, 61, 63, 8990, 95,
107, 194, 195, 199
Useem, Michael, 12

V
Viault, Raymond, 52, 89
Vulcan Materials Company, 80

W
Wall Street, 14, 133
analysts, 14, 27
Wall Street Journal, 178
Wal-Mart, 12
Welch, Jack, 110, 145, 153
Weldon, William, 141

BINDEX.indd 238

Index

Westinghouse, 14, 28
Whartons Center for
Leadership and Change
Management, 12
Wilson, Alan, 2728, 109
women, 20910
WorldCom, 22
world GDP, 210
World War II, 8, 10

X
Xerox, 12

Y
Yahoo! Inc., 120
3M, 35, 146
10 Key Dimensions, 3, 5969, 71,
119, 213

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