The CEO succession planning process is among the board’s most critical responsibilities. It’s also one of the most complex, involving the delicate interplay of procedural, political, and personal dynamics. Our goal is to help clients manage those complexities through any or all phases of the succession process.
In recent years, overall responsibility for the succession process has been shifting from the CEO to the board of directors. While the board’s primacy represents sound governance, it often leads to truly messy situations, fraught with personal conflict, political in-fighting, and dangerous risks of losing top talent.
Boards – particularly those who are taking a leading role in succession for the first time – are looking for help not just with assessing potential CEO candidates but, just as importantly, with designing an effective succession process that properly balances the important roles to be played by both the board and by management.