RSR Partners: An Insider's Guide to CEO Succession
Much has been written and debated about CEO succession. The pandemic has taught most companies that succession is a heavy-lifting exercise when it comes to business continuity. Boards are increasingly concluding that the full weight of succession planning rests squarely on their shoulders, which leads to the critical question that every board must answer: promote from within or search externally?
Executive search and consulting firms are often engaged to help boards resolve this complex situation, but the inclination to conduct a search may sometimes be premature. Having completed over 1,000+ assignments for Boards and CEOs over the past two decades, RSR Partners wanted to share a few observations when planning for the selection of your next CEO.
The article outlines the following:
- Internal or External?
- Bench Strength is Key
- The “Siren Song” of Private Equity
- The Nexus of Board & Management and the “Opting Out” Phenomenon
- Strike a Balance