CEO Succession Planning Often Lost in the Shuffle

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Over the last five years, average tenure of a CEO (based on a survey of public and private companies) shrank from 7.3 years to 4.4 years. Focus on CEO succession is becoming more important to boards. Half the members of boards surveyed believed that their succession planning was inadequate; only 33 percent had a well-documented succession planning process.

It is not clear why boards, at least of larger and public companies, don’t do a better job with CEO succession.

Originally published in New England In-House on May 22, 2013.

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Topics:  Board of Directors, CEOs, Corporate Governance, Succession Planning

Published In: Business Organization Updates, General Business Updates, Mergers & Acquisitions Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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