In this episode of Build Better Boards, hosts Dr. Keri Jacobs and Richard Fagerlin—joined by host Mitch Majeski—kick off a three-part panel on CEO succession and executive search. Guests John Wright (Kincannon & Reed), Kevin Drury (Hedlin Ag Enterprises), and Leigh Taylor (NRECA) unpack why boards mistrust “headhunting,” how retained vs. contingency models differ, and what it takes to run a disciplined, values-aligned search.
- Retained vs. contingency: retained firms emphasize process, fit, and partnership; contingency models can prioritize speed and resume volume. Boards should set clear expectations and understand tradeoffs.
- Selecting a firm: look for industry fluency, direct accountability, communication cadence, and cultural connection to the co-op—beyond simply “filling a seat.”• Board preparation: align early on strategy, succession, compensation realities, and success metrics (6–12–36 months). Use CEO evaluations and strategic plans to define what “good” looks like.
- Candidate pool and fit: stay open to non–co-op backgrounds while screening for cooperative values and servant leadership; over-narrowing to “co-op only” shrinks the pool and can miss strong operators.
- Process discipline: clarify committee vs. full-board roles, move with urgency (“time kills candidates”), prepare for interviews, and present a cohesive strategic story and culture to candidates.
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