Top executives are rapidly coming and going, keeping their jobs for increasingly shorter periods of time. Most boards are so unclear about the definition of leadership, they are picking the wrong people. CEO churning needn't be, say leadership experts Warren Bennis and James O'Toole.
Boards can reverse the trend by following several guidelines.
First, boards must come to a shared, accurate definition of leadership. Second, boards should strengthen the CEO selection process by resolving strategic and political conflicts amongst themselves. Third, the board needs to measure every CEO candidate's soft qualities. Economic measures are important, but integrity, the ability to provide meaning, and the talent for creating other leaders are critical. Fourth, boards should beware of candidates who act like CEOs.