In our experience, Succession Planning is not always as robust as investors expect it to be, nor fully aligned with best practice principles in the interests of all stakeholders.
The strength of an organisation's succession plan for an unforeseen CEO transition, for the C-Suite and for other critical senior management roles can make a material difference to continuity and business performance during senior level transitions.
Investors will hold Boards accountable for the strength of the CEO succession plan. The Board will hold the CEO and senior management accountable for the strength of key role succession plans and the depth of succession planning in key strategic functions.
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