In 2007, under the strong leadership of its Managing Director, a London based property investment company had enjoyed remarkable growth and expansion into new markets. Like any responsible leader, the MD was now looking to the future and his succession but was concerned that there was no obvious successor amongst his directors.
He questioned the leadership capability and judgement of his senior team. Individually, they did an excellent job. However, no one had all the necessary skills to lead the business effectively. His first choice in particular was causing problems. Operationally this person was strong; their leadership and interpersonal skills were a major challenge. The MD was concerned that if left unchecked this person could not be considered in his succession planning.
The MD to identify a successor who can be mentored and coached over the next five years to allow the MD to withdraw from the day to day running of the business and take on the role of Chairman. Restructure the Director Team to ensure each individual is working to their strengths, empowered, fulfilled and sees themselves as part of a dynamic leadership team to take the company forward.
We have worked with the Directors of this senior team over the last few years. Using a mix of psychometrics, competency development, developmental coaching and team alignment this Director team has had the opportunity to explore and challenge their thinking and behaviour. They were able to strengthen their leadership abilities and recognise how they show up to each other and the wider business both internally and externally.
Stronger relationships, transparency and honesty with each other have enabled the senior team to be more dynamic and high performing and the MD, now CEO, has made the choice of his future successor.
This person is now running the business on a day to day basis as COO and the CEO has the role of mentor.