Establishing lines of communication with external stakeholders

Introductory calls to major shareholders, analysts and customers are important relationship-building activities, even if the content itself remains fairly superficial. Share relevant feedback from these conversations systematically. A briefing book highlighting the top institutional investors — including their contact information, their holdings and key issues — is an essential tool to prepare you for earnings calls and one-off calls with shareholders. Consider reaching out proactively to the largest shareholders, who want to feel like an insider and feel confident that the company is going to be fine under your leadership.

There also may be critical community stakeholders or issues that you should become familiar with — an ongoing tax deal, labor issues, complex real estate transactions, regulatory issues, public relations challenges — or relationships that may place demands on your time. For example, is there an expectation that you will succeed the former CEO on the board of directors of a major nonprofit organization?

Before You Start

• Ask for a list of the top 10-50 customers and top 10 shareholders, as well as the main issues for each.
• Research analyst industry and company coverage and investor expectations.
• Understand key government regulations, agencies and other stakeholders that may impact the business.

First 100 Days

• Ensure that there is a plan for strategically meeting with the critical customers, top shareholders and other critical external stakeholders.
• Understand what other key stakeholder commitments may require your attention or time.

Day 101 and Beyond

• Incorporate feedback from clients, shareholders and others into strategic plan.
• Understand key community relations dynamics and relationships.