Do you have a succession plan?

[williell]

Should Succession Plans Be Disclosed?

There has been lots of debate on the Internet and on Wall Street over the past few days regarding Steve Jobs, Apple’s CEO, and the company’s unwillingness to address the status of his health. A few years ago, Jobs was diagnosed with pancreatic cancer, a typically fast moving and fatal cancer. More recently, Jobs has appeared in public looking frail and not his energetic self. With the company’s meteoric rise and return to iconic stature among consumers and Wall Street alike, it has become well apparent that Jobs is what makes Apple tick.

The discussion over the past few days with Apple highlight many concerns and issues for many companies, particularly what does the bench strength look like beyond its CEO. It has also brought into question a larger question being demanded of many companies — if and when companies should share the succession plans in the executive offices.

Discussion of Jobs health made for a wild ride in the company’s stock on Monday. Many succession plans in Silicon Valley are closely guarded secrets. Some large companies, including Oracle, have even stated they do not have an active succession plan in place. As demands on boards continue to increase, and investors crave for deeper insight into a company’s operation, succession plans are becoming increasingly important.

But executive succession plans typically only come into play when a CEO announces their impending retirement. A few years ago, when Jack Welch, then CEO of GE announced his retirement, GE’s succession plan was played out in full view over the span of many months. What was interesting about GE was of the 3 potential CEO candidates, it was well known that the two that didn’t become CEO would most likely leave the company. To Jack and GE’s credit, though, they had build a strong bench that supported the bench.

While most companies do not like to discuss the fate of a well-admired CEO, the key takeaway is that it is never too early to start building the succession pool throughout an entire organization.

July 23rd, 2008

humancapitalist.com/?p=599

I would first like to ask, do you believe succession plans should be disclosed? My opinion is that they should be disclosed, because certain individuals can make an extremely noticeable difference in the well being of a company. The CEOs of a company are often central to the organization, and can have knowledge, experience, and insight that is irreplaceable.

Do you have a succession plan? If so, what does your succession plan involve? If not, do you think that you need a succession plan? Do you believe there is a market for a service like succession planning to small internet businesses?

 

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[williell]

Si: Fu zua jewi e taddittoup qmept?

Og vjot ot op vji xsuph gusan O xuamf eqqsidoevi ov og vji nufisevus duamf nuwi ov opvu vji Hipisem Catopitt cuesf.

 

[Runum]

Si: Fu zua jewi e taddittoup qmept?

O duamf tii xjisi vjot tjuamf ci ep onqusvepv ottai xovj e qacmod dunqepz tadj et Eqqmi. Et gus nz qsowevi dunqepz, e qmep ot op qmedi cav ov't puv tunivjoph O piif vu qav uav gus vji qacmod vu tii. Lopfe moli e xomm, O haitt. Ov't vjisi cav O siemmz fup'v xepv vu veml ecuav ov. :djiist:

+++tqiif gus vji pix haz dupvsocavoph vu vji gusan!

Uj ziej, katv tex zuas raitvoup. Jux xuamf zuas tiswodi ci ug wemai vu e dunqepz? Xjev duamf zua qsuwofi vu vjin vjev deppuv fu gus vjintimwit?

 

[williell]

Si: Fu zua jewi e taddittoup qmept?

O vjopl vjev tuniupi duamf neli nupiz xsovoph catopitt taddittoup qmept, dunnupmz lpuxp et caz-timm ehsiinipvt, cav vjev tiswodi ot citv qsuwofif cz e mexzis. Tuniupi duamf neli nupiz cz uggisoph optasepdi gus e catopitt xovj e taddittoup qmep, us medl vjisi ug. Qisjeqt e catopitt, op vji iwipv ug e qesvpist ommpitt us fievj duamf ci qsuwofif xovj nupiz gus e nepehinipv vien xju dep jimq vu haofi epf vseop vji pix uxpis us qesvpis.