Unlocked CEO’s strategic growth potential
Board and senior management grappled with guiding established business through simultaneous CEO succession and strategic redirection.
"We need to know if our new CEO is equipped to lead us through this strategic transformation."
-Board chair
The board and senior management of a multi-million-dollar food and beverage business were struggling to navigate two major simultaneous transitions. After 30 years, the organization was pivoting into new strategic priorities while also managing the transition of a new CEO. Stakeholders were uncertain if the organization would succeed in this new area or if the new CEO was ready and the right fit.
Date
October 24, 2024Solutions
The client
Confidential
The challenge
Board and senior management faced simultaneous risks: new CEO leadership and strategic pivot of a 30-year business
The board and senior management grappled with how to accurately assess the new CEO’s performance and leadership capabilities. With so much at stake, including external stakeholder trust, the board wanted a solution that could provide both an objective performance review and targeted growth opportunities for the new CEO.
The solution
Comprehensive multi-year CEO 360 performance review, executive coaching, and strategic alignment.
Realize recognized that there were two key components to this business’ challenge: 1) accurately assessing the CEO’s current performance and fostering their growth as a leader; and 2) strategic alignment between the CEO, board, management, and external stakeholders.
By conducting regular CEO performance reviews, providing executive coaching, and ensuring strategic alignment, Realize successfully stabilized the company during the CEO transition. Our structured process improved the CEO’s performance, fostered deeper alignment with key stakeholders, and built greater confidence in the organization’s future direction.
Our approach and methodology
To accurately assess the CEO’s strengths and concerns, Realize conducted a comprehensive CEO 360 performance review involving the board, management, staff, and external stakeholders. The board and CEO committed to a 3-year series of executive performance review to maximize CEO potential, improve and maintain strategic alignment, and boost external stakeholder trust.
All parties were surveyed confidentially in 6 key areas: board support, financial and risk management, organizational development, strategy and implementation, leadership qualities, and communication style. Paired with the CEO’s self-assessment, the board and CEO had a 360 view on the CEO’s performance along with where they excelled and could improve.
To activate the findings, executive coaching was provided to boost the CEO’s performance and promote deeper alignment between chief executive, board, and stakeholders. Each annual 360 CEO performance review was compared to the results of prior years, providing accountability for growth initiatives.
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About us
Realize Solutions is an award-winning B Corp-certified team that designs practical solutions for organizations with complex problems in the areas of board governance, organizational development, and people.
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