Leadership succession is fundamental to the ongoing success of an organisation and, while applying to all leadership positions, it is particularly important when addressing Chief Executive succession.
The appointment of a new Chief Executive is one of the most important decisions an organisation makes. Nevertheless, it does not take much searching to find examples of organisations that have made hasty decisions and poor appointments.
Too often we have seen organisations undertake formal selection processes with little thought as to what sort of leader is required and how best to induct them into their new role. Our view is that a successful succession process must embrace both rational and emotional
factors. Chief Executive succession is an art rather than ‘just’ a process, and getting this right requires preparation, planning and strong execution.