Career Explorations

Question

The long-time CEO of a large paper company is retiring. The members of the board want to make sure that the new person they hire to take his place will keep the company growing at a good rate and be able to hold on to the crucial employees who have worked under him. Describe what kind of person the board would want to consider for this position. What qualities would be beneficial to the new CEO and how would these qualities help the company?

Answer 1

The board would likely want to consider a candidate for the CEO position who possesses a combination of leadership qualities, strategic vision, and people management skills. The following qualities would be beneficial for the new CEO and would help the company:

1. Leadership Skills: The new CEO should have strong leadership abilities to guide the company effectively. They should be able to inspire and motivate employees, set a clear direction, and make tough decisions when necessary. A strong leader can instill confidence and rally employees around common goals, fostering a positive and productive work culture.
2. Strategic Vision: The CEO should have a forward-thinking mindset and a strategic vision for the company's growth and success. They should be able to identify emerging opportunities and trends in the industry, develop innovative strategies, and make sound business decisions that align with the company's long-term objectives.
3. Industry Expertise: A deep understanding of the paper industry and its dynamics would be beneficial for the CEO. They should have a solid knowledge of market trends, competition, and technological advancements relevant to the industry. This expertise would enable them to make informed decisions and lead the company through industry challenges and opportunities.
4. Employee Engagement and Retention: Holding on to crucial employees is essential for maintaining institutional knowledge and continuity. The new CEO should possess strong interpersonal skills and be able to connect with employees at all levels. They should foster a positive and inclusive work environment, promote employee development and recognition, and effectively communicate the company's vision and goals. By prioritizing employee engagement and retention, the CEO can ensure a talented and dedicated workforce that contributes to the company's growth.
5. Change Management Abilities: The paper industry is undergoing significant changes, including digital transformation and sustainability initiatives. The new CEO should be adaptable and possess change management skills to navigate these transformations effectively. They should be able to lead the company through transitions, inspire innovation, and drive continuous improvement to keep the company competitive in a rapidly evolving market.
6. Stakeholder Management: The CEO should have strong interpersonal and communication skills to effectively manage relationships with stakeholders, including shareholders, customers, suppliers, and regulatory bodies. Building and maintaining positive relationships with stakeholders is crucial for the company's reputation, partnerships, and long-term success.

Overall, the new CEO should be a dynamic and visionary leader who can drive growth, retain key employees, adapt to industry changes, and effectively manage stakeholders. By possessing these qualities, the CEO can provide strategic direction, foster employee engagement, and position the company for continued success in a competitive market.