Planning for a key employee's departure is not, as some mistakenly believe, inviting turnover or expressing disloyalty to staff, but rather, necessary for long-term success.
Whatever backstage board drama there may have been, Munoz showed courage and character strength in the face of daunting business and personal health crises.
You never know when the time to sell will come. Being prepared now—even if you have no immediate plans to cash out—is just the smart way to go.
The transitional leader phase is the most critical to long-term company sustainability, as executives must work toward building confidence in incoming leaders and ensuring a smooth transition of leadership.
While leadership transitions are a natural step for many organizations, the shift from founder to CEO is unique. To ensure a seamless shift in leadership, here are four best practices that can be implemented.
Without nurturing leadership teams tend to function as groups of individuals rather than as organizational force multipliers. Below are three practical steps leadership teams can take to ensure their teams get in and stay in alignment.
Alongside succession, transition ranks among the top challenges any enterprise will ever face. If not properly planned and executed the damage can be irreparable.
To share our experiences through mentoring provides a user friendly opportunity for others to learn from our failures and successes. To be respected as a mentor is an honor not shared by many.
It is extremely risky to let CEO succession planning slide. Not having somebody ready when the CEO decides to leave, is forced out or dies, can put any company into a leadership crisis.
With a united front, transparency and a succinct transition plan, the CEO transition can mitigate what can otherwise be a painful and challenging process, while assuring employees that they’re still core to the corporate mission.