The Board of Directors at Veerz Inc

question 52

Multiple Choice

The board of directors at Veerz Inc. is looking to hire a new CEO for their firm. They have decided that their new CEO should be someone from outside the organization with ample experience in the industry and leadership capabilities. The board has decided to follow the general procedure for selection. Potential candidates will be thoroughly screened, background checks will be performed, and previous employers or business partners will be contacted to ensure one's candidature. However, the organization must conduct this process in a formal manner and use intermediaries to do the job for them. In this case, which of the following methods is the board likely to use?

• A) They would display an attractive advertisement in the top business magazines.
• B) The board members would individually select people from their personal contact list.
• C) They would hire an executive search firm to locate the desired candidate.
• D) They would conduct an organization sponsored social event to try and lure top management from other firms.

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Definitions:

Revocation

The act of recall or annulment of a decision or an offer that had been previously made.

Apparent Agency

A situation where a principal inadvertently leads a third party to reasonably believe that another individual has the authority to act as their agent, even if no such agency relationship actually exists.

Wholesale Jeweler

A business specializing in selling jewelry in large quantities at lower prices, typically to retailers rather than direct to consumers.

Retail Jewelry Store

A business establishment that specializes in selling jewelry and related accessories to the final consumer.