Partner Doreen Lilienfeld (New York-Compensation, Governance & ERISA), Global Head of the Governance & Advisory Group, spoke at the “Compensation in a CEO Transition” panel at the Board Executive Compensation Conference in New York.
The CEO transition is one of the most challenging times for any business. There are many moving parts: What to do for the departing CEO leaving the organization? What to do for the new CEO upon promotion or joining the organization if an external hire? What to do for the members of the management team when they are in the running and when they are identified as also-rans? Panel members provided background on market practices and shared their experiences from recent CEO transitions, as well as provided perspective on the key issues in a transition and how to balance fairness to the executives with shareholder concerns.