ABSTRACT
How do effective directors ensure executive succession planning is effective and focuses on what matters most?
Based on a framework of global corporate governance best practice, which can be used in all organisations anywhere in the world, this chapter of Questions To Ask (QTA) in the boardroom gives a high-level but succinct introduction to executive succession planning.
Succession planning is a key part of a board’s responsibilities and requires the commitment of the leadership team and board to identify business-critical roles, the skills and attributes required to succeed in them, and to develop and nurture talent to ensure they can step into those roles successfully.
Good succession planning will ensure the board legacy and requires anticipation of business needs and key roles that are integral to its continued success. Establishing the skills and attributes required to fulfil these roles is the start of a process to build a talent pipeline which extends through the business in order to ensure a steady supply of future leaders.
The chapter’s introduction leads into the key Questions To Ask in the boardroom, giving the reader further insight into how to initiate discussions about future needs and the talent pipeline.
