Electric utility CEOs of the near future will need to be as knowledgeable about technological advancements as they are about other more traditional management areas, a new report indicates. “The Electric Utility CEO of Today-and Tomorrow” report from executive recruiting firm Spencer Stuart lists “technology savvy” as among the five core abilities critical to the success of future utility CEOs.
Over the next five years, the report states, utility CEOs will need to make the transition from managing “metal, mass and hydraulics” to managing “miniaturized, electronic and information technology.” Leadership’s focus will move from leveraging generation and transmission assets to managing information and customer relationships for competitive advantage, according to the report.
Also making the report’s list of core CEO abilities were more traditional management qualities like financial expertise, competitive industry experience, strong communication and management skills, and international experience.
“Today, most electric utilities are fairly similar,” said Bob Shields, managing director of Spencer Stuart’s electric utilities practice. “But as each utility identifies a strategy for the future-generating, distributing or marketing power-the demands on and profiles of their CEOs are likely to diverge considerably. Utilities’ needs will become more specialized, and identifying the right individual to become CEO will be even more challenging and more important.”
A copy of the report is available by contacting Cathi Claussen at Spencer Stuart via e-mail at cclaussen@spencer stuart.com.