Here's a governance test question to pose to your board: When should you start a CEO succession plan? Correct answer: The day a new CEO takes office. The point, of course, is that it’s never too soon to start planning for a leadership transition. As dramatic as that may sound, it’s actually a fundamental truth, one borne out by anecdotal evidence on a regular basis.
A new study shows that CEO succession plans are often more talk than action, Fortune says.
A new study by EY Global and Kennesaw State University sheds some light on how CEOs and owners of family-run companies perceive the strengths and weaknesses of family ownership, especially when it comes to succession and on what they do to make sure it endures as a family-run business.
As the saying goes, “the best laid plans of mice and men often go awry.” In the case of succession, an unexpected CEO vacancy can throw even a healthy organization into disarray.
Historically, Board Director Succession Planning has been relegated to a process focused on simply “replacing” a particular individual who is retiring with someone who is most like that particular individual. Although instituted quite frequently, this historical approach ignores three truths that are worth examining.
A new study of investor concerns provides CEOs and boards a roadmap for reducing risk and improving business performance.
CEO succession practices have witnessed a sea change over the past decade. In the not-so-recent past, anointing a successor- regardless of what official corporate...