Succession Planning
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Our Impact
Succession Planning
Clarity and consensus about who will fill key roles when they open in planned or unexpected
fashion is increasingly critical. We help boards and senior management understand the quality of their bench strength,
develop plans to build and deploy it, and ensure they meet their stakeholder obligations to have the right leaders in
the right place at the right time.
- A large gaming company wanted to be sure their top team had the right capabilities
to support a major business expansion and that their succession plan would generate a sufficient
supply of qualified candidates. We designed a custom competency model for this company that
reflected their unique business requirements, assessed their top eight executives against this model,
and provided detailed evaluations and development plans for each executive. The quality of the
succession plan helped facilitate an acquisition by a private equity firm a year later.
- With changes in the regulatory environment and calls for stronger board oversight, a leading global investment
bank decided to take steps to more fully engage its board of directors in executive succession planning and strategies
for leadership progression. While the company had a history of annually collecting data on top executives and sharing that
with its board, the process was seen as cumbersome, ineffective in properly engaging the board, and yielding rubber-stamp
succession decisions. We worked closely with the bank’s top executives to identify areas for improvement and then with
corporate human resources to implement a new system for compiling, analyzing and displaying assessment data, sharing with
the board and facilitating a dialogue between the board and the CEO and other officers.
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