Rising disruption, business complexity prompts Boards to heighten focus on CEO succession: Korn Ferry global board study

Getting CEO succession right amid rising complexity and disruption is among the topmost priority areas of focus for chairpersons of Indian boards, according to a board study by leadership search and consulting firm Korn Ferry.

Board Chairs of top Indian boards are of the view that getting the right leadership at the top is the single most powerful lever for long-term performance and cultural continuity, according to the global study that interviewed 188 board chairpersons across 33 countries representing more than 800 boards, including 20 prominent boards in India.

Nearly 83% identified CEO succession as the board’s most critical responsibility as succession is no longer viewed as a reactive exercise but seen as a strategic imperative that demands ongoing attention, stated the findings of the report.


“The process of evaluating and identifying the next CEO is a dynamic journey that can take up to two years — and rightly so, because this is the single most important decision a Board will make,” said Harsh Mariwala, Non-Executive Chair, Marico. “If the Board needs to spend significant time on anything, it should be this,” he added.

The study also emphasised the heightened emphasis on building high-trust boards. Soft values such as trust, inclusion, and open communication are considered “non-negotiable” for an effective board with nearly 67% of Chairs identifying these as critical enablers of high performance.

“The chair is no longer a custodian of process, but a catalyst for transformation. We see this as the beginning of a critical, long-overdue dialogue on what future-ready board leadership must look like in a world defined by disruption,” said Monica Agrawal, MD – Board & CEO Services | Financial Services, Korn Ferry India.

“The Board Chair’s role is undergoing a profound shift—from oversight to foresight. Today’s chairs are expected to lead strategically, coach the CEO, manage diverse stakeholder pressures, ensure robust succession, and refresh the board for relevance. These five imperatives reflect a new leadership mandate, which demands strategic acuity, active partnership, and the courage to redefine boardroom norms,” Agrawal added.

Chairs also emphasised on the need for diversity of skills and experience on boards including digital fluency, cultural alignment, or transformation experience.

“Diversity isn’t just about who’s on the board—it’s about knowing what skill we’re missing, where to find it, and who can help us access that talent and insight,” said Shailesh Haribhakti, an independent director on several top boards.

The global findings of the study reveal that risk management and risk preparedness are increasingly considered as foundational pillars for every board today.

“The risks we face aren’t just financial; they’re geopolitical, environmental, and operational. Boards that fail to prepare for these complexities are setting themselves up for serious consequences down the line,” the study noted.

Technological readiness is also considered to be one of the key areas reshaping every facet of business. “Boards must enhance their understanding of AI, data governance, and cybersecurity to stay strategically aligned with this shift,” revealed the findings.