Succession Planning
Categories: Company Management
The CEO had been in the saddle for 18 years. But he'd lost his hair and much of his mind. He'd retire next year or two or three. Regardless, it was the board's duty to implement a form of succession planning.
Who would succeed him? And if they were an insider, like the existing COO, then who would succed that person? What would change? Would the CEO's knowledge of the industry, the personal relationships, the deals he had with everyone...would those then change as well?
Good succession planning looks through different lenses at every possible reasonable outcome and asks, "Are we doin' this right?"
