A multi-objective approach to CEO selection
A critical decision that a board of directors must make involves Chief Executive Officer (CEO) selection. In order for an organization to be successful, board of directors must identify CEO candidates that offer a good fit with the needs of the organization. Unfortunately, few analytic techniques have been suggested to aid directors in making complex CEO selection decisions. This paper presents a modeling approach that combines the concepts of strategic management, the operations research technique of goal programming, with PC technology to provide board of directors with an effective method for evaluating CEO candidates and making selection decisions. The paper extends existing literature on CEO selection by applying a computer-based model to CEO selection in a way that has not been done before. The informational efficacy of the modeling approach is demonstrated using data from a Fortune 500 experimental CEO selection case study. The results of the application reveal the unique contribution this paper's modeling approach can make to CEO selection.
goal programming chief executive officer selection human resource decision support