Getting CEO succession right amid rising complexity and disruption is among the topmost priority areas of focus for chairpersons of Indian boards, according to a board study by leadership search and consulting firm Korn Ferry.
Board Chairs of top Indian boards are of the view that getting the right leadership at the top is the single most powerful lever for long-term performance and cultural continuity, according to the global study that interviewed 188 board chairpersons across 33 countries representing more than 800 boards, including 20 prominent boards in India.
Nearly 83% identified CEO succession as the board’s most critical responsibility as succession is no longer viewed as a reactive exercise but seen as a strategic imperative that demands ongoing attention, stated the findings of the report.
“The process of evaluating and identifying the next CEO is a dynamic journey that can take up to two years — and rightly so, because this is the single most important decision a Board will make,” said Harsh Mariwala, Non-Executive Chair, Marico. “If the Board needs to spend significant time on anything, it should be this,” he added.
The study also emphasised the heightened emphasis on building high-trust boards. Soft values such as trust, inclusion, and open communication are considered “non-negotiable” for an effective board with nearly 67% of Chairs identifying these as critical enablers of high performance.
Chairs also emphasised on the need for diversity of skills and experience on boards including digital fluency, cultural alignment, or transformation experience.
“Diversity isn’t just about who’s on the board—it’s about knowing what skill we’re missing, where to find it, and who can help us access that talent and insight,” said Shailesh Haribhakti, an independent director on several top boards.
The global findings of the study reveal that risk management and risk preparedness are increasingly considered as foundational pillars for every board today.
“The risks we face aren’t just financial; they’re geopolitical, environmental, and operational. Boards that fail to prepare for these complexities are setting themselves up for serious consequences down the line,” the study noted.
Technological readiness is also considered to be one of the key areas reshaping every facet of business. “Boards must enhance their understanding of AI, data governance, and cybersecurity to stay strategically aligned with this shift,” revealed the findings.
Board Chairs of top Indian boards are of the view that getting the right leadership at the top is the single most powerful lever for long-term performance and cultural continuity, according to the global study that interviewed 188 board chairpersons across 33 countries representing more than 800 boards, including 20 prominent boards in India.
Nearly 83% identified CEO succession as the board’s most critical responsibility as succession is no longer viewed as a reactive exercise but seen as a strategic imperative that demands ongoing attention, stated the findings of the report.
“The process of evaluating and identifying the next CEO is a dynamic journey that can take up to two years — and rightly so, because this is the single most important decision a Board will make,” said Harsh Mariwala, Non-Executive Chair, Marico. “If the Board needs to spend significant time on anything, it should be this,” he added.
The study also emphasised the heightened emphasis on building high-trust boards. Soft values such as trust, inclusion, and open communication are considered “non-negotiable” for an effective board with nearly 67% of Chairs identifying these as critical enablers of high performance.
Chairs also emphasised on the need for diversity of skills and experience on boards including digital fluency, cultural alignment, or transformation experience.
“Diversity isn’t just about who’s on the board—it’s about knowing what skill we’re missing, where to find it, and who can help us access that talent and insight,” said Shailesh Haribhakti, an independent director on several top boards.
The global findings of the study reveal that risk management and risk preparedness are increasingly considered as foundational pillars for every board today.
“The risks we face aren’t just financial; they’re geopolitical, environmental, and operational. Boards that fail to prepare for these complexities are setting themselves up for serious consequences down the line,” the study noted.
Technological readiness is also considered to be one of the key areas reshaping every facet of business. “Boards must enhance their understanding of AI, data governance, and cybersecurity to stay strategically aligned with this shift,” revealed the findings.
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