Preparing for a Succession Emergency
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CEO Succession Practices

Preparing for a Succession Emergency

/ Article

Succession planning is one of the board’s most important oversight responsibilities, and a majority of corporate boards review these plans annually. These reviews, however, often do not take into emergency succession events, circumstances in which a quick response can be problematic. By integrating an emergency succession plan into their crisis management process, companies can determine their preparedness, identify a credible emergency successor, and increase their ability to smoothly manage the announcement.

Succession planning is one of the board’s most important oversight responsibilities, and a majority of corporate boards review these plans annually. These reviews, however, often do not take into emergency succession events, circumstances in which a quick response can be problematic. By integrating an emergency succession plan into their crisis management process, companies can determine their preparedness, identify a credible emergency successor, and increase their ability to smoothly manage the announcement.

Authors

Jason D. Schloetzer

Jason D. Schloetzer Jason D. Schloetzer

Associate Professor
McDonough School of Business at Georgetown University

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Edward Ferris

Edward Ferris Edward Ferris


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