PwC's "How the best boards approach CEO succession planning" emphasizes via current data and trends the need for sustained board focus on CEO succession planning and highlights leading practices to support a smooth leadership transition. Among the practices identified as critical are clearly delineating board-level ownership of the succession process, maintaining dynamic plans for both planned and unplanned transitions, and implementing a structured CEO onboarding framework.
The resource also emphasizes the importance of high-level proxy disclosure regarding the board’s succession planning process, as well as carefully crafted communications to investors, employees, and other stakeholders at the time of a succession decision. In addition, it notes related governance considerations—such as board leadership structure and the quality of the CEO–board relationship—that boards should thoughtfully evaluate in connection with a transition event.