Top of the House Succession
This review represents a compilation of ideas, activities and recommendations associated with a well developed succession process for the CEO and top of the house. It reflects the current thinking on best practices for organizational preparedness and ultimate transition success which must be in place well before the anticipated retirement of a CEO.
It should be noted that off the shelf solutions seldom work best, so built in flexibility must be a key characteristic of any succession planning process.The unique circumstances and needs of a company (i.e.,market and industry demands,where it is in the growth cycle and its current wellspring of leadership talent) should always be discussed and factored into the succession planning program.
The recommendations that follow are consistent with RHR's collective experience of successful succession processes in a variety of leading companies and industries.