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You are on the board of a company that needs to downsize dramatically. Doing so will...

You are on the board of a company that needs to downsize dramatically. Doing so will cause great public criticism. What factors should you consider in hiring a new CEO and designing his or her incentive plan?

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Answer #1

Factors to be considered in hiring a new CEO would be:

Experience tenure of the individual

Similar industry experience

Similar situation handling experience preferable

Strategy for implementation for management of downsizing and handling criticism.

Incentive plan is to be develop considering the plan to be implemented. Incentive can include monetary or recognition and growth prospects. A realistic and achievable target is to be set for the CEO to accomplish for getting eligible for the incentives.

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