In choosing a CEO, FIRST look at the company environment, most importantly the challenges the company will face over the next few years. Only then should you choose a leader, with the decision based upon the their fit to the environment.
Many companies have it backwards. They look to attributes of the individual first, and choose based upon who has the "best."
In making your choice, do not limit your search to those within the same industry. Leadership qualities are fungible across industries. I would argue that a Revlon executive should not automatically be barred from consideration for a position within an oil and gas company. Consider Louis Gerstner, who is credited with turning around Big Blue. Before he came over to IBM, Gerstner was an executive at RJR Nabisco. There are countless other examples.
This is difficult from many to swallow, perhaps especially in the
so-called "hard industries" (i.e. engineering, software, oil & gas,
etc.). Interestingly enough, these are also the the industries
dominated by males.
Watch GM over the next few months. GM's current CEO, Richard Wagoner, will likely be ousted; take note of who is chosen as his replacement. If GM's board is even somewhat cognisant of GM's situation, and I would argue that they are, they will look far outside of Detroit to turn things around. Mark my words...
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