Finding Success at Succession
David Berke
In recent years, succession planning—which aims to ensure continuity in key leadership and management functions—has become increasingly important for organizations. There are many reasons for this, but perhaps the most obvious is demographics. The oldest of the baby boomers have reached retirement age, and the group following the boomers, Generation X, is not large enough to replace them.
Demographics, however, are not the only reason why organizations and their leaders should pay attention to succession.
Turnover at the CEO level has grown substantially. According to Bloomberg, the CEO turnover rate in 2011 was at 13 percent, the highest in the past six years. And when a CEO leaves, it is not unusual ...
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