Navigating CEO Succession Near Exit
CLIENT: Private Equity Backed Leading Service Provider in the Transportation Industry
Challenge:
- Forthcoming CEO retirement and planned PE ownership transition prompted the need for CEO Succession Management.
- Needed to identify and prepare the next CEO from two internal candidates while retaining and building alignment between both candidates.
- Recent major acquisition created complexities including scaling operations and unifying the leadership team.
Actions:
- Conducted candidate assessments, interviews, and multi-rater feedback to inform CEO selection decisions and development plans.
- Created new President role to retain and develop other candidates based on company needs and leader strengths.
- Deployed tailored, intensive coaching for both leaders to accelerate readiness for respective new roles and build alignment.
- Maintained a regular cadence of stakeholder check-ins throughout the engagement to help ensure a smooth transition.
Impact:
- Enabled leadership changes three months earlier than planned, driving quicker strategic alignment.
- Based on assessment results, the PE firm and board made leadership decisions with the “highest confidence in history.”
- Retained both internal candidates, reducing attrition risks.
- Company exceeding revenue and EBITDA growth goals with improved efficiency, further strengthening its position heading into an exit.