Why CEO Succession Is More Critical than Ever
CEO succession is more than an important issue; it is fundamental to a company's sustained success. The disconnect between how important this issue is and the willingness of boards to tackle it can be attributed to the fact that it is a time-consuming process and many board members are ill-prepared to manage it.
Moreover, the psychological forces and organizational dynamics involving such issues as power, ego, legacy, and personal agendas have as much influence on the process as objective data, procedures, and timelines.
For the sake of business continuity and a company's sustained effectiveness, there are no reasons to ignore or give brief and inconsiderate attention to the selection and ...