Costs mount quickly when any CEO departs without an obvious internal replacement. The seven-figure severance package and six-figure retainer for an executive search firm are just the beginning. These costs pale in comparison to the less visible costs.
Turmoil and uncertainty at the top filter quickly down through the organization, slamming the brakes on growth initiatives, hindering the closing of vital deals, and causing some valued leaders to start looking for new positions elsewhere.
CEO Succession Management is arguably one of the most important leadership moves in a company’s history. A smooth transition is essential to maintain the confidence of investors, business partners, customer and employees. It provides the incoming CEO with a solid platform from which to move the company forward. A properly designed and executed succession plan is at the center of any successful transition.
The CEO Succession decision is no easy task. Unfortunately, these important succession planning decisions are often undermined by a lack of process, due diligence, vague criteria, & questionable accuracy.
Our highly orchestrated & systematic approach includes lock-step alignment with your Board of Directors and the existing CEO. The architecture and system we’ve developed ensures vitality of the CEO internal talent pipeline, from contingency planning to 5-7 years of succession candidates.
Our blueprints ensure you avoid the most common succession planning problems.
We work with you to develop & execute a rigorous and confidential process that involves the right stakeholders and enables great decisions. We support you to ensure: