The Process
Keep in mind:
- There is no "one size fits all."
- Well-planned successions start with a thorough delineation of the business strategy, which serves as a roadmap for the rest of the process.
- As the company's strategy shifts over time, so should the roster and ranking of likely successors.
Guiding Principles
Keep in mind:
- be undertaken in an open and objective manner and with the input of global intelligence.
- leave all contenders, successful or unsuccessful, with the feeling that they had a fair shot at the CEO position.
- be perceived by all in the company as fair and that all major constituencies had a voice in the process.