Do Directors Have a Role in Selecting the CEO's #2?
NACD MEMBERS ONLY ROUNDTABLE
Limited Seating Event
Every private company reaches a point where the owner/CEO needs a second-in-command to help mind the store and to provide decision support as the company grows. But hiring a strong #2 is a complex transition involving chemistry and often power struggles.
Success depends upon the ability of the owner to let go, and the willingness of management to respect the new authority when in effect they’ve been demoted — in losing direct access to the owner, they may feel they have lost their ability to influence key company decisions.
What role if any should the Board of Directors play in the selection of a second-in-command? How can directors best support the CEO in transitioning authority, and help the new leader to succeed?
Directors will share their experiences including what worked, what didn’t, and what they plan to do differently next time. Directors should come ready to learn from the discussion and will leave better prepared to guide company owners through any leadership transition.
Esperanza Guerrero-Anderson will serve as moderator and Ruth Johnson, President & CEO of Homes for Heroes, will share her experience on how "Homes for Heroes" managed successfully the selection of the number two executive.
Location and Time
729 Second Avenue South
Minneapolis, MN 55402
7:15: AM Registration
7:30 AM - 9:30 AM Working Breakfast & Program
Esperanza Guerrero-AndersonEsperanza Guerrero-Anderson is the founder and president of GUERRERO-ANDERSON, Inc., a management consulting firm that specializes in creating exceptional boards for privately held companies. Previously she was CEO of Milestone Growth Fund, a Minnesota-based venture capital fund of which she is the founder. During her 16 years at Milestone, she represented the fund on the board of directors of many of its portfolio companies and assisted in establishing boards of directors for several of those companies. Ms. Guerrero-Anderson has more than 25 years of experience in corporate governance and in service to nonprofit organizations. She has developed a proprietary method of creating, recruiting and leading boards that produce exceptional results for fast-growing privately held companies. Currently she serves on the boards of Great Lakes Educational Loan Services Inc., NorthStar Educational Services, Inc. and the Minnesota Chapter of the National Association of Corporate Directors. She also has served on the boards of Leeann Chin Inc., National City Bancorporation, Reell Manufacturing Precision Co., Center of the American Experiment, Guthrie Theater, Walker Art Center, Bush Foundation and many other successful organizations. Ms. Guerrero-Anderson is a nationally recognized corporate executive and business leader, and the recipient of numerous awards. She is a frequent speaker for associations and universities throughout the U.S. and is an adjunct instructor of Business Ethics and Organizational Governance in the Executive MBA Program at the University of St. Thomas. Ms. Guerrero-Anderson’s extensive education credentials include Yale University’s Executive Management Program; a master’s degree in Management Information Systems from the University of Minnesota; completion of the Leadership in Public Policy Program at the University of Minnesota’s Hubert H. Humphrey Institute of Public Affairs; and a degree in business administration from the Universidad Centroamericana in Managua, Nicaragua.
Ruth JohnsonRuth is the President and CEO of Homes for Heroes, a nationwide network of real estate professionals who, through their membership, grow their real estate business by giving significant rebates and discounts to those who serve our nation and its communities. Ruth’s real estate career began in 1978 where she was first a successful Realtor, then manager and recruiter for Century 21 and Coldwell Banker. She owned her own successful real estate company for more than 15 years. Her awards and successes in the real estate industry are many. Ruth sold her real estate company in 2006 to devote full attention to her family’s start-up company, Homes for Heroes. Homes for Heroes was formed shortly following the tragic events of 9/11/2001. It began as a local effort, promoted from within Ruth’s real estate company. In 2009, Homes for Heroes began to expand, state by state, and today is a fast growing, nationwide company. Homes for Heroes has received a Red Cross award, Minnesota Business award for Social Entrepreneurship and is currently one of three finalists for Minnesota Business Community Impact award. Ruth is no stranger to the challenges of start-ups and fast growing companies and continues to lead Homes for Heroes by working with the board of directors and key leadership employees on growth strategies for the future. Ruth also currently serves on the board of directors for the True Friends Foundation.