Succession Planning – selecting a CEO
To prepare a successor for its CEO, who was to retire in three years, a US company conducted an internal search that revealed four promising candidates who were given development opportunities to address any weaknesses. When the incumbent CEO unexpectedly died one of the candidates was appointed and the other three were considered possible future successors. One was a young leader with an impressive academic pedigree and a fine appreciation for the financial aspects of the business, though one e...
BPIR Categories9.3.2 Develop succession & career plans
9.3.3 Recruit, select & hire employees