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Chief executive officers and boards of directors are feeling the pressures of increased stakeholder activism and scrutiny. When asked in the RHR International 2013 CEO Snapshot Survey about the current biggest threat to their tenure, 22 percent of CEOs cited “failure to perform to stakeholder expectations,” compared to just 12 percent in January 2012. In addition, more than half (57%) say that they will be driving a change in their company’s strategy this year.
“Coming out of the recession, CEOs and their stakeholders have refocused on investments in growth,” says Dr. Thomas J. Saporito, CEO and chairman of RHR International. “The previous economic environment was just not conducive to that approach. Now that the possibilities are greater, CEOs and stakeholders must act in concert. Well-managed companies embrace their stakeholders, rather than try to manage their expectations.”
The results of the annual survey of 100 public and private company CEOs from a wide array of industries support the trend of transparency, seen not only within the role of the CEO, but also within the business models they put into place.
“We are now in a time where increased transparency is part of the social contract businesses have with their stakeholders,” says Dr. Saporito. “Moving forward, we will continue to see CEOs be more open regarding the processes that make up the organization.”
Other major findings of the survey include:
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