23 | No Unicorns: Navigating the Realities of CEO Searches.

In this episode of Build Better Boards, hosts Richard Fagerlin, and Dr. Keri Jacobs continue their conversation with John Wright (Kincannon & Reed), Kevin Drury (Hedlin Ag Enterprises), and Leigh Taylor (NRECA). The panel explores how boards should navigate internal versus external candidates, the importance of succession planning, and the common pitfalls that can derail a CEO search.

• Internal and external candidates should go through the same process; “courtesy interviews” create risk and do not serve the candidate or the board.
• Strong succession planning, transparent communication, and clear development paths help retain and prepare internal talent.
• Boards should not assume internals only maintain culture or externals automatically bring change; every candidate must be assessed on leadership approach and vision.
• Breaches of confidentiality, CEO involvement in internal candidacies, and off-line board member conversations are key process failures that can harm both candidates and organizations.
• Candidate and family fit with the community is a practical factor; engagement, responsiveness, and preparation signal genuine interest and suitability.
  

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