Inside CEO Succession: The Essential Guide to Leadership Transition

Foreword

CEO succession planning is arguably the most important responsibility of a board of directors. A wise succession choice can lead to a meaningful value creation story for all stakeholders, while a poor choice can render just the opposite effect. Given the relative importance of this board responsibility, I have found it surprising that there is a paucity of consistent best practice on this front.

For the better part of two decades, I have experienced every facet of succession planning in my capacity as student, participant, and practitioner. I have been a candidate for succession who has not been chosen and one who has been selected to succeed. I have been responsible for shepherding the CEO succession process for four boards of directors—one ...