Whether you are running a consumer health, medical device or a life science company, you need the strongest CEO possible to lead in this dynamic business climate.
All CEO’s need to have deep expertise of their subject matter in the industry. Full life-cycle product development, introducing new products to market, understanding the importance of a great customer experience –not only product pricing, but also the cost of building a great product and satisfying stakeholder requirements, managing P&L, managing a Board of Directors, and key stakeholders. Raising money – both from private equity and the public markets. This sounds like a really big job… It is. Failure to enhance this all-encompassing role is why CEO turnover is so high.
The Five Attributes Necessary for Strong CEO’s:
- Embrace change – It’s inevitable when you face uncertainty in the business climate, M&A activity is high, new competitors enter the market — regulatory challenges. Embracing change and managing to the change allows for continued success.
- Must be a subject matter expert in their business. The CEO needs to understand industry levers, develop strong relationships and know how to increase value in their given market.
- They use analysis to drive strategy – the good CEO’s will have a “feel” for the business and will also use metrics to verify and monitor activities to adjust strategy and drive for the right results.
- They are agile managers, they navigate all situations by building strong teams that work collaboratively and get results.
- Focus on finances- not just spending and income but also on margin, profit, growth and then use these both to drive business decisions.
When you find these five attributes in a CEO, you should hire them.
Notice we did not note charismatic or dynamic personality in there. Even though these CEO’s are often drivers we have focused on skills and attributes that are inherent in CEO’s of all well run businesses.
We specialize in providing you the right C-Suite talent the first time, as fast as possible. Because we focus on finding the right fit, the first time, our clients’ key hires often surpass their objectives and have created over 10B in market value. Please call us for to learn more about why we have many repeat clients, and how we can help you identify and hire the best C-Suite talent available.