Chapter 2

Success or Failure—The Cause and Cost

“I think Alan Mulally will be a great mentor to a lot of our younger leaders. He's a great team builder. Our team needs the steady hand of someone who has been through a turnaround, someone who knows what it takes.”

—William Clay Ford, Jr., executive chairman of the Ford Motor Company

“Not addressing CEO succession planning, whether because we felt it was lower priority or we just didn't want to deal with the personality issues, probably set our company back five years.”

—Board member of a Fortune 100 company (anonymity requested)

A Reoccurring Pattern

A great deal of attention has centered on corporate governance in recent years, more so than at any other time in history. A direct line can ...

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