At Lonergan Partners, we have developed the F18 process to help Boards and CEO candidates increase their level of relevant engagement prior to a CEO hire, test alignment issues, and improve the success rate of new CEOs. It is our belief that through F18, we ensure a much higher likelihood of a smooth transition and a positive outcome.
What Is F18?
F18 is a working session of the Board where the top 3CEO candidates each outline a strategy for the “First 18 Months” (thus F18). Candidates are provided a list of general questions as a guide, but are encouraged to lead the Board in a discussion in the direction of their choosing. Board members take an active role by challenging ideas, raising questions and interacting from a Board perspective. F18 as practiced by Lonergan Partners has been a positive process for both Boards and the candidates involved.
Your team did an excellent job of finding CEO candidates and vetting them and giving us the space we needed to come to a decision. I think we made the right one. I love your F18 practice. Brilliant way to weed things out.
Andy Cunningham,
Board Director,
Motiv Power Systems
I was very impressed with the F-18 Process. It helped all of us on the board understand what we could expect from our top candidates if and when they became the CEO. It was also a great indication of the commitment of our top candidates, based on how they prepared for this event.
George Lauro,
Board Director,
Sensera
F18 - A Product of Our Experience
F18 Benefits the Board
Engages the whole Board in its most fundamental responsibility – the selection of the new CEO — and elevates the discussion; the decision is then not solely the responsibility of the nominating committee members who have spent the most time interviewing candidates
Tests for candidate commitment — since the candidate must prepare and must spend time with the whole Board, it represents real “skin in the game”
Approaches a real world test of leadership: can the candidate work with the Board on sharing a vision and create a forum for a healthy discussion of its merits?
Is actually a strategy-level discussion for the whole Board — who they select is a vote on where the company will need to go
F18 Benefits the Candidate
The selected candidate will enjoy across the Board support, with a high level of commitment from the Board for their choice of leadership
Sets the stage for CEO/Board partnership on an initial approach to running the company, because an early vision for the approach has been aired, tested, and the majority of the Board is behind it
Creates an early forum for active engagement with the Board on business issues facing the company
Lifts the basis of CEO evaluation beyond resume and references, which are very important and necessary, but do not well approximate a “real world” test of the CEO’s leadership
Allows the CEO candidate to see the Board in action
