In an ideal world, the organization in which a transition at the top is about to take place would have these features.
- The board would be knowledgeable about the company and its talent, aware of the challenges it faces, a partner of the CEO to meet those challenges, and dedicated to making the company great in every way as well as profitable in the near term. It would be wise in its counsel and know how much to be involved and when to back off. The CEO would know the board supports him as the transition proceeds and directors would grasp their unique role in the handoff. Some of the directors will have gone through their own CEO transitions as designated successors and as departing CEOs.
- The CEO would not only be a skilled executive ...