The Most Expensive CEO Mistake: Why Boards Must Define What the Business Needs Before the Search Begins
The most expensive CEO mistake often happens before the search starts.
Boards begin discussing who they want before aligning on what the business actually needs from its next leader.
In this episode of the People/AI Strategy Forum, Sam Reeve, CEO of CompTeam, speaks with Tom Verboven, Human Capital Leader at Mercer, about how boards can approach CEO succession with greater strategic clarity, rigor, and discipline.
Tom explains why succession should begin with the future of the business, not a list of candidates. Before assessing who is right for the role, boards need to define the capabilities, behaviors, experiences, cultural alignment, and leadership relationships the next stage of growth will require.
In this episode, you will learn:
• Why CEO succession is a business design decision, not simply a hiring decision
• How boards can build a clear CEO success profile before beginning the search
• Why poor succession planning increases financial and organizational risk
• How strategy, culture, and leadership behavior should shape candidate criteria
• Why executive assessment should use multiple evidence points rather than intuition alone
• How interviews, psychometrics, cognitive tools, simulations, and business cases can strengthen selection
• When internal succession may be stronger than an external hire
• Why external CEOs need more intentional onboarding and relationship-building
• How the first 90 to 100 days can shape long-term CEO effectiveness
• Why succession planning should be treated as an ongoing leadership process
The central message is simple:
Boards should define what the business needs before deciding who should lead it.
A strong succession process starts with strategy, translates that strategy into a clear leadership profile, assesses candidates against that profile, and continues through onboarding, coaching, and board alignment after the hire.
About Tom Verboven
Tom Verboven is a Human Capital Leader at Mercer, where he advises clients on creating business value through effective human capital strategies.
His work spans executive assessment, succession planning, high-potential programs, talent selection, executive coaching, organization structure, change management, and culture realignment.
Tom has lived and worked across Belgium, the UAE, Lebanon, the United Kingdom, and the United States, bringing a global perspective to leadership, talent, and organizational effectiveness.
About the People/AI Strategy Forum
The People/AI Strategy Forum, hosted by Sam Reeve, CEO of CompTeam, brings together executives, advisors, researchers, and business leaders to examine how leadership, workforce strategy, AI, compensation, and organizational systems are shaping business performance.
Each episode delivers practical insights for leaders navigating growth, transformation, succession, talent decisions, and the future of work.
If you enjoyed this episode, follow the People/AI Strategy Forum on your preferred podcast platform and join the conversation!
About the People/AI Strategy Forum
The People/AI Strategy Forum explores how leaders navigate the intersection of people strategy, leadership, and artificial intelligence. Hosted by Sam Reeve, Founder & CEO of CompTeam, the Forum features conversations with executives, practitioners, and experts shaping the future of work.
Learn more about CompTeam and the People/AI Strategy Forum at compteam.net.