CEO SUCCESSION

Is your Board Proactive enough?

CEO succession is a vital issue for any company, and shareholders expect the Board to have a well-planned and well documented succession plan.

 

Among the numerous responsibilities Board members are confronted with, none is probably more important than selecting the next President and CEO. Yet a surprising number of Boards have no CEO succession plan.

 

Every year in North America, over 1500 public owned companies go through a CEO succession. Each time, the Board of these companies is confronted with unique situations that range from a smoothly-planned process to complete chaos and crises.

 

Ultimately, the value and the future of the company are at stake. How is your Board managing this risk?

 

CEO succession is no isolated event in the life of a company: this is a multidimensional process encompassing competencies and qualities that vary widely, depending on the company’s development stage and potential in-house resources, versus those from the industry at large, peripheral companies, or even entirely different business sectors.

 

Is your company ready? Has it mapped out the entire process and all its requirements? Will it have access to all the market information it needs to effectively manage what is probably its greatest risk in terms of human capital?

 

At Leaders & Co, we can guide you through these dire straits. Leverage our knowledge and experience and stay in control of the transfer of leadership and Board of Directors governance.