This is the last article of our four-part series examining the topic of CEO succession in the engineering and construction (E&C) industry and how to overcome the obstacles associated with new executive transitions. In the last article, we discussed how to facilitate the exiting CEO’s transition. Here, we explore how to determine if and when a successor will be ready to take over the helm of the […]
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As the Canadian engineering and construction (E&C) industry enters 2018, we glimpse the recession in the rearview mirror and wonder how the many unknowns related to pipeline construction, oil prices, the North American Free Trade Agreement (NAFTA) and government infrastructure spending will unfold during the next 12 months.
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On December 14, 2017, the Federal Communications Commission (FCC) voted to reverse the 2015 directive that required Internet Service Providers (ISPs) to treat all types of digital traffic equally. Previously, no internet traffic—regardless of the user or the content—took priority over another. This directive, commonly known as network neutrality, has spawned a heated debate among consumers and […]
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This is the third article in our 4-part series examining the topic of CEO succession in the engineering and construction (E&C) industry and how to overcome the obstacles associated with new executive transitions
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It’s been widely reported that the construction industry is increasingly challenged by a labor shortage. Construction business owners – faced with rising labor costs, quality issues and expanding project schedules – have seemingly few options.
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In this article, we revisit a familiar theme, leadership development. We recycle this basic topic for two reasons. First, there is more urgency; according to a recent FMI survey, 35% of CEOs and senior leaders in construction companies will retire in the next five years. Second, many of the next-generation leaders will be younger than normal.
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This is the second article in our 4-part series examining the topic of CEO succession in the engineering and construction (E&C) industry and how to overcome the obstacles associated with new executive transitions (Read part one here). In the last article, we identified early warning signs of CEO derailment and how to make mid-course adjustments before it’s too late. Here, we explore why personal […]
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Is your board of directors succeeding with succession? The board is responsible for keeping the company aligned and moving towards fulfilling its longer-term vision. However, an opportunity that many boards miss involves succession management. Succession planning is perhaps a board’s most important role; the choice of the next CEO is a key determinant of the future state of the organization.
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In July, Quanta announced the acquisition of Stronghold for $548 million, expanding its capabilities into downstream markets. Stronghold offers turnaround and other downstream services, tank storage and other midstream services. The company specializes in high-pressure and high-reactor infrastructure services.
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Have you ever read a news article where directors are quoted giving a glowing endorsement of the current CEO, only to find that same CEO stepping down a few months later under a dark cloud amid stories of misconduct? What brings those board members to ignore negative information and paint a gloriously healthy but misleading picture of the organization?
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