The Importance of a Horse Race for a Company’s CEO
The classic succession horse race pits several senior executives in an overt contest to determine who will become the company’s next chief executive officer. While some governance experts are uncomfortable with the horse race approach — which can create disruption at a company and potentially result in weak leadership once the winner is anointed — others argue that it can be a very effective method for selecting a CEO. If a board is willing to take the necessary steps, it can even help build strong leaders deeper in the organization that will ultimately be prepared for the CEO role.
Individual flat races are run over distances from two and a half miles (3.2 km) to four or more miles (6 km). The longest distance is known as a marathon, while shorter races are called sprints. Fast acceleration is required to win a sprint, while stamina is a key factor in winning a long-distance race.
Before a race begins, horses are placed in stalls or behind a starting gate to ensure that no one has an unfair advantage. Once the gates open, competing horses are guided by jockeys along a course marked with obstacles such as fences and hurdles. A jockey’s skill and judgment in coaxing a horse to its best performance is crucial to the success of a race.
During a race, horses are pushed to their limits physically and emotionally. Because of their massive torsos and spindly legs, the bones in their backs are not fully formed until they reach age 6. In addition to this physical challenge, most horses are subjected to cocktails of legal and illegal drugs meant to mask injuries and increase their performance. Many horses will bleed from the lungs during the race, a condition called exercise-induced pulmonary hemorrhage. To avoid this, many horses are given Lasix or Salix, a diuretic with performance-enhancing qualities.
After a race, jockeys analyze the horses’ performance and make decisions about their future in racing. If a horse is injured or not in the best condition to compete, it may be retired. The owner of a retiree may choose to retain its breeding rights, sell it or give it away.
The horse race is also important to the horse industry because it promotes a culture of accountability and a belief that all participants have an obligation to the sport’s integrity. This is reflected in the fact that most of the top horse racing organizations in North America have adopted policies to deter horsemen from using illegal drugs and other performance-enhancing techniques. This is also evident in the high reputation of the British racing organization Timeform, which has helped to shape the world’s most respected ratings for horse races.
The classic succession horse race pits several senior executives in an overt contest to determine who will become the company’s next chief executive officer. While some governance experts are uncomfortable with the horse race approach — which can create disruption at a company and potentially result in weak leadership once the winner is anointed — others argue that it can be a very effective method for selecting a CEO. If a board is willing to take the necessary steps, it can even help build strong leaders deeper in the organization that will ultimately be prepared for the CEO role. Individual flat races are run over distances from two and a half miles (3.2 km) to four or more miles (6 km). The longest distance is known as a marathon, while shorter races are called sprints. Fast acceleration is required to win a sprint, while stamina is a key factor in winning a long-distance race. Before a race begins, horses are placed in stalls or behind a starting gate to ensure that no one has an unfair advantage. Once the gates open, competing horses are guided by jockeys along a course marked with obstacles such as fences and hurdles. A jockey’s skill and judgment in coaxing a horse to its best performance is crucial to the success of a race. During a race, horses are pushed to their limits physically and emotionally. Because of their massive torsos and spindly legs, the bones in their backs are not fully formed until they reach age 6. In addition to this physical challenge, most horses are subjected to cocktails of legal and illegal drugs meant to mask injuries and increase their performance. Many horses will bleed from the lungs during the race, a condition called exercise-induced pulmonary hemorrhage. To avoid this, many horses are given Lasix or Salix, a diuretic with performance-enhancing qualities. After a race, jockeys analyze the horses’ performance and make decisions about their future in racing. If a horse is injured or not in the best condition to compete, it may be retired. The owner of a retiree may choose to retain its breeding rights, sell it or give it away. The horse race is also important to the horse industry because it promotes a culture of accountability and a belief that all participants have an obligation to the sport’s integrity. This is reflected in the fact that most of the top horse racing organizations in North America have adopted policies to deter horsemen from using illegal drugs and other performance-enhancing techniques. This is also evident in the high reputation of the British racing organization Timeform, which has helped to shape the world’s most respected ratings for horse races.