CEO Succession Practices: 2012 Edition

CEO Succession Practices: 2012 Edition

Jason D. Schloetzer Georgetown University – McDonough School of Business

Matteo Tonello  The Conference Board, Inc.

Melissa Aguilar The Conference Board, Inc.

April 13, 2013

The Conference Board Research Report R-1492-12-RR

Abstract: 
CEO Succession Practices: 2012 Edition documents and analyzes succession events of chief executive officers (CEOs) of S&P 500 companies. In addition to updates on historical trends, the study features discussions of the most notable cases of CEO succession that took place in 2011 (based on press announcements and other publicly available information) as well as the results of a survey of corporate secretaries and general counsel on the succession oversight practices of their boards (administered annually by The Conference Board). The study includes the following: Part I-CEO Succession Trends (2000–2011): Year-by-year succession rates; Part II-CEO Succession Practices (2011): Includes two sections, “Board Practices in CEO Succession Planning” and “Communication Practices in CEO Succession”; Part III-Notable Cases of CEO Succession (2011): Summaries of 10 episodes of CEO succession that made headlines in 2011 (Advanced Micro Devices; The AES Corporation; Apple; First Solar; Gannett Co.; Hewlett-Packard; H&R Block; Newell Rubbermaid; PG&E; and Yahoo); Part IV-Shareholder Activism on CEO Succession Planning (2011): Discusses a critical policy reversal by the U.S. Securities and Exchange Commission on the excludability of shareholder proposals in CEO succession policies (Hewlett-Packard; Kohl’s; News Corp; Red Robin Gourmet Burgers; United Natural Foods). Concluding the report is an appendix of The Conference Board Roadmap to CEO Succession Planning, which outlines a series of steps intended to help directors organize succession planning, integrate it with existing board responsibilities, make it transparent to all stakeholders, and ultimately define it as an ongoing element of business strategy.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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