Proactively Manage the Transition
“It's awkward and somewhat painful to turn over the reins to the new leader after you've been the CEO. The challenge is in transitioning what you know, then getting out of the way. If you don't get out of the way, you're ultimately in the way.”
—Brad Anderson, former chairman and CEO, Best Buy Co., Inc.
After having spent months deliberating over the final roster of CEO candidates and deciding on the company's next leader, boards tend to breathe a collective sigh of relief in the belief that their hardest work is behind them. Relieved, they will shift their focus to other pressing matters as they await the date of transition when the new CEO officially assumes office.
But the reality is that the ...