“Executives have to be in the job long enough, not only for their successes to visit them, but for their failures to visit them. We all have both.”
George W. Buckley , Chairman, President, and Chief Executive of 3M
While corporate boards and CEOs recognize succession planning as one of their
fundamental responsibilities, it is not always given the priority that it
deserves. Adopting a clear, comprehensive and objective succession planning
process is more than just a mark of good governance – it is critical for the
healthy performance and sustainability of any organization, and for investor
confidence in the case of public companies.
Before making any decisions about leadership succession, a company’s management, together with the board, must articulate a clear strategic vision for the future of the business. It is vital that potential successors – whether for CEO or other senior functional roles – are equipped to lead the business as it will look in the future, not as it stands at the present.
Mchils has extensive experience advising organizations and helping them prepare for a range of scenarios, from long-term controlled succession to emergency succession.
Our experience with best practices, our market knowledge and widespread access to leadership talent combine to make us a valuable partner for boards, chief executives and HR leaders committed to CEO succession planning.