A recent research report indicated that close to 30% of all CEO's of S&P 500 companies are replaced with external hires. For all the talk about Talent Management, Succession Planning appears to be failing to "cut through" at board level. This HBR article talks about why and what can be done to correct this.
CEOs will inevitably leave office, yet research has long shown that most organizations are ill-prepared to replace them. In this article, we review the most salient studies of succession planning and offer context from experts on the process of picking new leaders for organizations.