Archive for successionplanning SmartBlogs

When a company is ready to pass the torch, tapping someone on the shoulder and expecting him or her to step up is a delicate process. Having someone replace a legend is an even more daunting task.

Steve Jobs died shortly after Tim Cook became Apple’s CEO. Beyond just stepping into legendary shoes, Cook also had to uphold a legacy.[…] Continue Reading »

Sadly, late last month we learned of the sudden death of Ed Gilligan, president of American Express. Gilligan spent his entire business career at American Express and was considered the likely successor to CEO Ken Chenault.

Also last month, David Goldberg, CEO of SurveyMonkey and husband of Facebook executive Sheryl Sandberg, died unexpectedly when he fell while exercising on a treadmill in Mexico.[…] Continue Reading »

Thinking about the end is never fun. Neither is planning for it.

So it makes sense that business leaders would avoid planning for the day they sell their company or step down from their role. Without a clear exit strategy, however, you could be putting your company, your employees, and your own future in jeopardy.

Don’t wait until it’s too late

Addressing every aspect of succession planning takes more time than you might realize.[…] Continue Reading »

This post is an excerpt from “Succession: Mastering the Make-Or-Break Process of Leadership Transition,” by Noel Tichy, in agreement with Portfolio, an imprint of Penguin Random House. Copyright (c) Noel Tichy, 2014.

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In March 2014, James Hackett, who had served as CEO of office furniture manufacturer Steelcase for twenty years, turned over the leadership of the leading company in his industry to his successor, James Keane.[…] Continue Reading »

A leadership transition is one of the most important yet underappreciated aspects of a new leader’s experience. It helps to frame the new leader’s role and the relationship that he develops with his team. If managed well, such transitions can make all the difference in promoting acceptance from within the ranks, and allowing the new leader the time and patience necessary to get acclimated and begin to build equity.[…] Continue Reading »