Succession Strategies for the C-Suite
Succession planning for the C-suite is critical to ensuring continuity for any bank. A strong executive development plan should be aligned to the future growth of the bank, says J. Scott Petty, a partner with Chartwell Partners. The plan should also aim to socialize rising executives with the board of directors. And ultimately, the board should hold executives accountable for the timing of a succession plan — or risk losing key rising talent. Petty shares more about how boards can take stock of their C-suite in this video.
Topics discussed:
- Elements of Executive Development
- Common Skills Gaps
- Board vs. CEO Responsibilities
The above video is part of Bank Director’s Online Training Series. To learn more, view Beyond the CEO: Executive Succession & Development.
Scott Petty
J. Scott Petty is a Partner in the Dallas office of Chartwell Partners and leads the firm’s Financial Services Practice serving bank, mortgage, wealth management and real estate clients across the country. Scott has an established 30-year track record advising boards and CEOs on making key leadership decisions for small- and mid-cap public and closely-held private companies. Prior to joining Chartwell in 2009, Scott spent over a decade between his tenures with Heidrick & Struggles and Spencer Stuart. Over the course of his time with each firm, he led search practices in banking, real estate, and broad financial services. Scott is a graduate of The University of Texas at Austin with a bachelor’s degree in psychology and minor in business management.