FOMO Sapiens with Patrick J. McGinnis S14 E10 Byron Loflin: Think You’re Ready to Be CEO? Here’s What it Takes.
Nov 20, 2025
Byron Loflin, Global Head of Board Advisory at NASDAQ and co-author of CEO Ready, shares his insights on preparing future CEOs and enhancing board governance. He highlights the importance of humility and open questioning in leadership, drawing lessons from the 2008 financial crisis. Loflin discusses proactive succession planning and stresses the need for independent, expert board members. He also emphasizes understanding diverse stakeholder dynamics, using OpenAI as a cautionary tale, and advocates for a continuous improvement approach in leadership development.
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2008 Crisis Sparked Board Focus
- Byron Loflin recounts being at Harvard Business School during the 2008 crisis which spurred his focus on board governance.
- That moment motivated him to found the Center for Board Excellence to raise boardroom standards.
Qualifications Aren't The Only Filter
- Being the 'most qualified' doesn't guarantee selection because boards and stakeholders have differing priorities.
- Boards may prefer candidates suited to future direction, not past accomplishments.
Document Succession Early
- Document CEO succession plans early and treat succession as a process, not a last-minute hire.
- Build detailed transition steps and milestones so changes aren't abrupt and disruptive.
