HBR's 10 Must Reads on Change Management, Vol. 2 (with bonus article "Accelerate!" by John P. Kotter)

The Merger Dividend

by Ron Ashkenas, Suzanne Francis, and Rick Heinick

MERGERS AND ACQUISITIONS are high-stakes moves, and most executives are acutely aware of the potential downsides of a failed integration. But companies routinely overlook one key opportunity embedded in the integration process: the chance to develop both the current and the next generation of leaders.

Mergers and acquisitions are driven by strategy, and to ensure their success, it’s tempting to either make the crucial decisions from on high or off-load much of the integration work to a small cadre of trusted lieutenants or hired guns. But doing so robs your leaders of opportunities for learning and growth and prevents you from seeing how people from both sides cope under ...