CEO Succession Planning

CEO succession planning is a straightforward, thought-out, step-by-step process wherein a sizeable number of candidates are reviewed, monitored and scrutinized to find a successor to a current CEO, MD or other such leadership roles. The process ensures the desired alignment between a successor and a company. The CEO’s post is challenging and vital to appoint. Therefore, additional planning and prudence are undertaken for CEO succession planning.

CEO succession planning is critical because appointing a CEO’s position is mission-critical for any organization. Hence, it desires the highest levels of succession planning and commences quite early. Probables can be from within or outside of the industry for CEO succession planning, provided they have a tangible and successful track record of delivering results.

This word is part of a larger series on Succession Plan

Succession planning is a detailed and vital undertaking to identify people who could immediately, or after targeted development, assume key positions. Considering the evolving workforce, various companies ensure that the succession plan is adhered to periodically and is adapted at all levels, be it leadership roles, mission-critical positions or niche roles.

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