What it takes to become a president

"Recently, a number of major mining companies seemed unable to find a president from within the industry, and were searching outside the industry. From this, one could conclude that managers within the industry are either not being prepared or are not preparing themselves for presidential responsibility. Opinions were sought from a number of senior executives, to attempt to define the skills a prospective president should acquire and what actions a company could take or that a prospective president could take to acquire these skills.This paper contains summaries of the opinions obtained, along with the author's comments. The paper also describes the actions some companies are taking and the actions that an aspiring president can take to prepare himself for corporate management.IntroductionA manager is promoted up the management ladder when the manager's superiors believe that he is capable of handling a more senior position. Normally, the manager acquires this credibility by outstanding performance in his current management post, whether it be in a junior management (supervisory) or in a vice-presidential capacity.In most instances, the skills required for promotion can be acquired in the current position or, at worst, the abilities exhibited in a candidate's current role will convince his superiors that the necessary expertise for the more senior position can be acquired on-the-job. This is particularly the case when the new skills are felt to be an extrapolation of the old skills.However, in the case of appointment to presidential rank, there appears to be a need for new expertise which often is not acquired in normal management progression or, at least, boards of directors of some mining companies seem to believe this to be the case. The objective of this paper is to attempt to define the new skills that should be acquired by a manager who aspires to be the president, and to describe what actions might be taken by him to acquire them."