In the last decade, we have witnessed a 59 percent increase in the overall rate of CEO turnover and 318 percent increase in performance-related departures. In spite of these alarming statistics, many organizations lack a strong, viable succession management plan for their top positions. Even organizations that excel in leadership development at the frontline and mid-levels make mistakes at the executive level. Whether it’s starting the process too late or relying too heavily on unstructured selection methods, like a board member’s instincts, the mistakes are common across all industries.
This prompted DDI’s Vice President of Executive Solutions Matthew Paese, Ph.D., to write the article “Your Next CEO: Why succession planning is more important than ever,” for the November/December 2008 issue of The Conference Board Review. In it, he takes us on a behind-the-scenes look at CEO succession with real-life examples of what organizations have done right and wrong, and offers sound advice and best practices for C-suite succession success.
As Matt points out in his article, “if done well, CEO succession not only ensures stability at the top post—it can also serve as a model of how talent should be cultivated and deployed for the long-term benefit of the enterprise.” Read Matt’s best practices for succession success.
Succession Success
