The missing link in CEO succession planning

first_imgCommunication strategy in CEO succession is often a critical but missing element in managing the transition of leadership. Practically, the board’s focus is on answering the question “Who should be our next CEO?” and misses an opportunity to strategically manage the communication strategy. The most effective approach is to design a strategic succession process, and communication is one step in that process.Here are some examples to illustrate the collateral damage of mismanaging communication.Brett is the EVP of a well-run organization and has been told by his CEO that he is the de facto successor. Monday morning he learns the board did an external, confidential CEO search. Brett now has a new boss and was never presented the opportunity to interview for the position.Mary is the current CEO and is developing two executives as potential CEO candidates with whom she has created the expectation that there is no need for the board to go external. The board, however, has a different agenda. Mary has done well as the CEO, but the board is reflecting that the competencies needed in the next CEO may be materially different from Mary. In the meantime, the internal candidates are being developed as a Mary look-alike. The board is not sure what it wants in a CEO, and Mary is retiring in nine months. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Farmers sow seeds of independence

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