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luis landa, Partner, Chile
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Companies need to have a succession plan for governance, to retain talents, to grow their business. Especially for the CEO. This is a most important issue; it is a going concern for the company.
So it should be considered into the policies when the company is created. All the owners and partners should agree on the procedures for the succession plan - when and how to resign the CEO. (...) Read more? Sign up for free
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Nihad Almahrooq, Consultant, Saudi Arabia
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CEO Succession Planning
Succession planning is necessary for positions of this magnitude and for others as necessary. Especially when a stakeholder has a preamble intention; otherwise it is bad management and will have back fire effect.
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Olaomo Ezekiel Ademola, Student (University), Nigeria
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Reasons for CEO Succession Planning
CEO Succession planning is so essential for any organisation because of the following reasons:
1. Tradition: the successor must understand the organisation's ethics and traditions to a large extent
2. Policies
3. Mission Statement: 1. and 2. above should be clearly understood; the importance of the organisational mission statement must be well articulated. The successor must understand, appreciate, run with, and promote the mission statement of the organisation.
4. Other reasons depending on the organization.
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