Presidential Selection & Transitions
Hiring a new President is arguably the most important role of the board, but a challenging one. According to the CIC, 20% of presidents change each academic year.
In contrast to succession planning, which is a shared responsibility of the President and Board, the Presidential transition process must be driven by the Board. A comprehensive transition process involves far more than simply the selection of the candidate and should begin as soon as the incumbent President’s retirement or exit date is known and last through the first year of the new President’s employment.
The transition plan may include, but is not limited to, the following elements:
- Formation of a Transition Committee
- Communication Strategy
- Goals for the President’s exit year
- Stakeholder Assessment
- Selection of a Search Firm or Evaluation of Internal Candidates
- Incumbent President’s Final Contract
- Compensation and Benefits for the new President
- President’s integration into the community and institution