“Succession Planning and Skill Matrix: The Board View” from R. McConnell Group discusses CEO succession planning in the context of directors’ fiduciary duties and outlines practices associated with effective board oversight.
The presentation describes what effective succession planning looks like, including criteria and leading board practices such as treating succession as a continuous governance process, maintaining a multi-year pipeline of internal candidates with regular board exposure, and periodically benchmarking internal talent against the external market. It also discusses key elements of board oversight of CEO succession and highlights other practical considerations, including planning for unplanned successions, managing retention risks for other senior executives during a succession process, and avoiding common transition mistakes that can complicate leadership changes.
Access additional resources on our CEO Succession page.
This post first appeared in the weekly Society Alert!