Korn/Ferry International's Alan Guarino takes a thoughtful look at CEO Succession, offering five key tenets that the most effective plans are built around: "The future should lead the now. How do we stack up against competitors? Think long-term success, not short-term wins. Is there a potential C-suite successor among the group or beyond? When you think you've thought of everything, keep thinking." Korn/Ferry also recommends asking the following three critical questions to determine whether your company is CEO-succession risk averse:
- Is the Board leading succession planning down through the C-suite?
- Does the board have empirical assessment data on each succession candidate?
- Has the board outlined the experiences, capabilities, and competencies needed to achieve the company's future strategy?