You must steward executive talent with the same forethought and diligence you already apply to shaping your company’s asset portfolio. Today there are relatively few executives prepared to step up to top company posts, even if market conditions were stable.įor these reasons and more, building the executive talent portfolio is a strategic imperative for all energy CEOs. As a result, the rising class of experienced senior energy leaders is thin. During the 1990s, when cheap prices prevailed, energy scaled back hiring and executive development. In short, all companies – including your company – will need a new breed of senior energy leaders.Įnergy’s top-level talent challenge is compounded on the supply side of the equation. They must be prepared to forge innovative new working relationships, rapidly leverage the best emerging technologies and navigate through unprecedented risks. Technology will play an exponentially greater role, and operating norms that prevailed for the last 50 years will be rendered obsolete.Įven the best rising executives must grow substantially to succeed in this demanding new arena. Competition will arise from unexpected sources. The geopolitical environment will continue to squeeze access, forcing the international oil companies (IOCs) into ever more difficult resource plays.
The future of energy will be nothing if not demanding. Energy companies must prepare a new generation of top executives to lead in a world that grows more complex by the day. While the energy sector is right to focus on “the big crew change” – the race to replace broad swaths of its aging workforce – an equally compelling challenge looms in the executive suite.
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