CEO SURVEY 2014

CEO Survey 2014
Improving yourself as a leader
www.stantonchase.com

Your Leadership Partner
General Overview
Our latest CEO Survey is divided into three sections: development, private entrepreneurship
and public company management.
This year again we had CEOs from foreign countries working in Serbia, alongside domestic
CEOs participating in our Survey, which makes the image of the current situation complete.
Most of the CEOs who took part in the Survey have been on CEO positions for over 10 years
and most of them come from Financial sector as well as Consumer products and services and
Professional services. What is important is that representatives of all sectors, including
Government took part, so we have a comprehensive insight in the opinion of key people of
our companies, public companies and Government institutions.
Development
Absolute majority of our participants, 74.2% of them, are satisfied with the current
development of their careers. Half of them think that professional training and
specialization are the best advantages of their development, and for one third of them those
are executive management programs in their companies. However, this information is not
convincing enough because on the other hand the majority thinks that this is the segment
on which their companies could work the most. Formal education and executive coaching
are on the second place, which is quoted as the most common form of development of
CEOs. Financial knowledge and people management skills are the areas that our
participants would like to develop most.
More than a half of the participants in the Survey are included in the development of their
successors, which indicates that most of the companies in Serbia think forward and have
a clearly defined career development programs. Only 10% of them don’t have any kind of
plan and 16.7% still have enough time to work on that because the change is not planned
in due course. Also, majority thinks that bringing a CEO from another industry is an
advantage, because they have a different viewpoint on the industry and in that way they
can generate new ideas and can perceive certain procedures in a new and maybe more
useful and efficient way. It is obvious that CEOs path is clearly defined. The path of gradual
promotions is the path most of them have passed and it is the right recipe for success.

We asked CEOs which characteristics and skills are necessary for success in their positions.
According to them people management, vision, determination, organization skills and
flexibility and change management are key characteristics and skills of a successful CEO.
Private Entrepreneurship
Hypothetical questions that we asked CEOs about starting their own private business may
give some a clearer picture about where to invest and what to do.
A little more than half chose Agriculture, which is in accordance with our previous Surveys
where around 80% of the participants claimed that Agriculture is Serbia’s perspective. Also
and as expected Renewable sources of energy took second place – it has been hot topic for
years, but no major progress has been made. Export should be the key strategy, but also
the creation of a family business in the long run. A half of the participants claim that this
strategy partially coincides with the strategy they are currently implementing.
Public Company Management
This is an interesting topic for several years now, if not even for a decade. The eternal
dilemma is – if there are enough experts, or good will of capable managers and the State to
let those managers responsibly change status quo which dominates in the majority of public
companies. According to the expectations, most of CEOs would transform public companies
into organizations set by business models of international companies. The assessments of
existing staff and the change of mindset would be key steps in this setting. Naturally, this
coincides with the strategies that they are implementing at the companies they work in.
Most of the participants think that for recruiting Managers in public companies one should
use companies specialized in such services, which has not been the case so far. They think
that it is the best way to get the most adequate candidates and in accordance with
international standards. Companies engaged in Executive Search can in that way translate
their experience because they do business with international companies which rely on them
almost as a rule. As they claim, it is a chance to avoid influence of political parties and leave
the job to the professionals.
Ultimately, we would like to thank all CEOs who took part in the Survey for their high
response. Perhaps reading of our Survey will be the inspiration for you to develop your
career in a certain way or to decide what kind of own business to start. Anyway, it is another
chance to hear what top businessmen from our companies have to say.

1. How long have you been a CEO?
Industries
Most of the participants in the Survey come from Financial, Consumer products and
Professional services sector.
Experience as a CEO
Most of the participants in the Survey have been CEOs for over 10 years.
1-3 years (12.9%)
3-5 years (25.8%)
5-10 years (25.8%)
Over 10 years (35.5%)
Consumer products (16.1%)
Technology (9.7%)
Logistics and Transportation (3.2%)
Industry (9.7%)
Agriculture (6.5%)
Finance (22.6%)
Pharmacy (12.9%)
Professional services (16.1%)
Government (3.2%)
2. What industry do you work in?
12.9%
25.8%
25.8%
35.5%
16.1%
3.2%
3.2%
16.1%
22.6%
12.9%
9.7% 9.7%
6.5%

4. Which aspect of the development are you satisfied with?
I am fully satisfied (74.2%)
I am partially satisfied (22.6%)
I am not satisfied (3.2%)
Career development
3. Are you satisfied with the development of your career so far?
Most of the participants in the Survey are fully satisfied with their career development.
Comments:
– I am satisfied with my career’s development in the last 14 years, especially in the last 3 years.
However, I am ready for even bigger challenges.
– Dynamic business – acquiring new knowledge and skills – the possibility to additionally
improve.
– Optimal increase of authorization followed by the increase of knowledge and experience.
– The period of last 3 years is a period of stagnation and lack of promotions.
Opportunity for professional training / specialization (51.7%)
Executive / leadership coaching (24.1%)
Executive management programs on a company level (31%)
Investing in formal education (3.4%)
Other (24.1%)
74.2%
When it comes to aspects of career development, CEOs in Serbia are most satisfied with the
possibility of professional training / specialization, while other aspects are evenly distributed.
51.7%
31%
24.1%
24.1%
3.4%

6. How does your company develop a CEO?
Opportunity for professional training / specialization (13.3%)
Executive / leadership coaching (26.7%)
Executive management programs on a company level (43.3%)
Investing in formal education (26.7%)
Other (23.3%)
Through professional training / specialization (38.7%)
Through executive / leadership coaching (48.4%)
Through executive management programs on company level (38.7%)
Investing in formal education (MBA, PhD…) (12.9%)
There is no organized development (29%)
Other (please specify) (3.2%)
Executive / leadership coaching, executive management programs on company levels and
professional training / specialization are most common ways in which companies in Serbia
develop CEOs.
Even though the third of the participants is very satisfied with executive management
programs on company levels, over 40% of them said that this is the aspect of development
they are least satisfied with.
5. Which aspect of development are you not satisfied with?
Comments:
– Decided by HQ.
38.7%
48.4%38.7%
29%
12.9%
3.2%
13.3%
26.7%
43.3%
26.7%
23.3%

Most of the participants in the Survey would like to improve their financial and specialist
knowledge, as well as people management skills.
7. Which skills and knowledge would you yourself like to improve?
Financial knowledge (35.5%)
Specialist knowledge (from the industry you work in) (32.3%)
Organizational skills (22.6%)
People management (35.5%)
Formal education (12.9%)
Most of the participants in the Survey are included in the making of their successor.
8. Are you included in the making of your successor?
Yes, I am (55.2%)
No, I am not (it is decided in the Headquarter) (6.9%)
Successors program doesn’t exist (24.1%)
The change is not planned in due course (13.8%)
35.5%
35.5%
32.3%
22.6%
12.9%
55.2%
6.9%
24.1%
13.8%

Makingoftheirsuccessormostlyconsistsoftheirinclusionintheselectionanddevelopment
process. The encouraging fact is that only in a small number of companies successor
program does not exist.
9. In what way are you included in the making of your successor?
I am included in the selection process (10%)
I am included in the development process (6.7%)
I am included both in the selection and development process (43.3%)
I am not included (13.3%)
Successors program doesn’t exist (10%)
The change is not planned in due course (16.7%)
A different viewpoint on business is one of the reasons why most of the participants in
the Survey claimed that they would hire a person from another industry on a managerial
position in their company.
10. Would you hire a person from another industry in your company?
Yes, because they have a different viewpoint on our business (61.3%)
Yes, but only on recommendation (16.1%)
Maybe, I haven’t thought about it (3.2%)
No, it is safer to hire someone who has experience in the relevant industry (19.4%)
No, I have a negative experience (0%)
43.3%
6.7%
10%
13.3%
16.7%
10%
61.3% 16.1% 19.4%
3.2%

The vast majority of the participants in the Survey advanced to the position of a CEO
through gradual promotions.
11. How did you advance to the position of a CEO?
Through a management program (9.7%)
Through gradual promotions (80.6%)
Externally (through a consulting company) (6.5%)
Through a combination of circumstances (6.1%)
Other (please specify) (0%)
People management, vision, determination, organizational skills and flexibility and change
management are the key characteristics and skills of a successful CEO.
12.InyouropinionwhatcharacteristicsandskillsmakeasuccessfulCEO?
Determination (61.3%)
Being principled (35.5%)
Consistency (58.1%)
Creativity (29%)
Vision (64.5%)
Expertise (41.9%)
Organizational skills (61.3%)
Flexibility and change management (61.3%)
People management (67.7%)
People development (45.2%)
Interpersonal skills (41.9%)
Presentation and public appearance skills (25.8%)
Comments:
– Flexibility and change management skills are very important on our market because we are
constantly in the situation to implement crisis management.
– Patience.
80.6%
6.1%
6.5%
9.7%
61.3%
61.3%
35.5%
58.1%
29%
6.5%
25.8%
41.9%64.5%
61.3%
67.7% 45.2%
41.9%

Starting your own business
Half of the participant in the Survey would invest in Agriculture in the case of starting their
own business. Renewable sources of energy and are on the second place and Consulting
company is on the third.
13. If you would start your own business, what industry would you
invest in?
Agriculture (51.6%)
Renewable sources of energy (41.9%)
Production (25.8%)
Trade (16.1%)
Consulting company (32.2%)
I already have my own business (16.1%)
Comments:
– Cosmetics, food supplements...
– Some sort of international Franchise.
Their strategy would be export oriented in case they started their own business.
14. What would your strategy be if you started your own business?
Export orientation (60%)
Domestic market orientation (13.3%)
Finding a foreign partner (23.3%)
Creation of a family business (long-term business) (36.7%)
Short-term investment with the aim to sell the business fast (3.3%)
60%
23.3%
3.3%
13.3%
36.7%
51.6%
41.9%
25.8%
16.1%
32.2%
16.1%
6.5%

Strategy that CEOs would choose, in case they started their own business, would partially
coincide with the strategy they are implementing now in the companies they currently
manage.
15. How much does that strategy coincide with the one you are
implementing now?
Managing a public company
If they had the opportunity to profitably run a public company CEOs in Serbia would
implement a business model of international companies, but they would insist on a clearly
defined system of reporting to the State representatives.
16.Whatwouldyourstrategybeifyouhadtheopportunitytoprofitably
run a public company?
It does (20%)
It does, but only partially (50%)
I don’t have that freedom of choice (10%)
No, it doesn’t (20%)
Business model of international companies (63.3%)
Export orientation (13.3%)
Domestic trade orientation (10%)
Finding a foreign partner (10%)
Short-term investment with the aim to sell the business fast (0%)
Clearly defined KPIs and remunerations of
Managers in line with results (80%)
Clearly defined system of reporting to the State representatives (43.3%)
Comments:
– It is very important to assess the structure of staff in the company and deal with those problems,
modernize the way of thinking and business comprehension. The mindset change looks like a
key problem.
50%
10%
20%
20%
63.3%
13.3%
10%
10%
0%
80%
43.3%
3.3%

It does (63.3%)
It does, but only partially (30%)
I don’t have that freedom of choice (6.7%)
No, it doesn’t (0%)
The chosen strategy coincides with the strategy these CEOs are currently implementing.
17. How much does that strategy coincide with the one you are
implementing now?
Most of the participants in the Survey think that agencies for recruiting Managers should be
used when employing managerial staff in public companies and government because of their
objectivity.
18. In your opinion, should one use agencies for recruiting Managers
in public companies and government?
Yes, because of objectivity (74.2%)
Yes, but it is difficult because of the price of those services (22.6%)
No (3.2%)
Comments:
– Only if the process of decision making would be objective, clear and without influence of political
parties.
74.2%
22.6%
3.2%
63.3%
30%
6.7%

About Stanton Chase
Stanton Chase International is an internationally specialized Executive Search company,
which by using the expertise of its consultants, provides its clients with the best services of
finding and assessing the top managerial staff. What makes us different is our knowledge
of international, regional and local movements on the workforce market, as well as the
accessibility to candidates from all over the world. Stanton Chase International is a
company which consists of 70 offices in 41 countries around the world. According to the
most recent research in this industry, the company is ranked one of the top 10 leading
international Executive Search consulting firms in terms of size, speed of development
and reputation. Among its clients the company is especially valued for its exceptional
quality of business, above all for its successful work assessment in the complicated
process of finding and choosing top management staff.
The Stanton Chase Belgrade office benefits from a reputation of delivering effective
and timely service to the most eminent local and international companies on Serbian
market since its foundation in 2005. Our extensive experience in region-wide and local
industry as well as service in accordance with western standards make us a competent
long-term partner on Serbian as well as on the markets of ex Yugoslavia republics –
Croatia, Bosnia, Montenegro and Macedonia. Our team expertise comes from running
successful searches on all hierarchical levels. Our searches are distinguished by tailor-
made customer solutions and dedication throughout each project.
Today Stanton Chase Belgrade is placed among
the leading Executive Search companies in Serbia.
Our team constitutes of consultants and researchers specialized for certain branches
of industry. We particularly want to emphasise that our consultants have acquired their
knowledge, skills and experience in leadership positions in the industries that they are
specialized in.
Our specialized fields
We offer industry specializations in nine dynamic fields:
 Industrial
 Technology (IT Telecom)
 Consumer Products Services
 Life Sciences Healthcare
 Financial Services
 Professional Services
 Natural Resources Energy
 Logistics Transportation
 Government, Education Non Profit
Using the latest methodology for the assessment of competences and personality profiles
(on-line psychometric testing and strategic exercises in the form of business simulations)
we provide a successful and fast assessment of the best staff relevant for project work.
Additional services
 Internal assessment
 Coaching
 Company restructuring
Blvd. Oslobodjenja 75, 11000 Belgrade
+381 11 3973676

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CEO SURVEY 2014

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