There is No One-Size-Fits-All CEO
Leadership positions are the hardest for organizations to fill. But Germán Hernández, Office Manager of Spencer Stuart's Mexico City office, says hiring the right CEO is an absolutely crucial decision. “The wrong CEO can destroy the value and reputation of an organization,” he says.
Even though CEO succession has always been a challenge, Hernández says there is often a disconnect between the next generation of leaders and the needs of the organization. In many cases, younger leaders with considerable digital abilities do not necessarily have the leadership aptitudes needed to climb to the higher corporate ranks. “The challenge is to close the leadership gap between the generations,” he adds. The solution is to integrate both generations into the business model.
While he believes that some in the younger generations lack the needed leadership aptitudes, Hernández says this issue can be reversed. “Mexico’s leadership needs to see the writing on the wall and simply accept that it has to adapt to the faster pace digital has created. They need to identify younger, digital-savvy leaders and bring their insight into their company’s forward-looking strategy.”
Hernández says the new digital era is changing the way business is done, and some large organizations that used to be important are failing to keep up with the new normal. An example can be found in the telecommunications sector, where the radical changes are forcing companies to question the abilities of their traditional executives.
Leadership positions have always been invaluable, but Hernández says the challenges posed by the new business environment requires company leaders to have a broader, multi-country and industry vision. This means understanding requirements from consumers of different countries and the importance of automated processes among others.