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Are You Ready to Replace Your CEO?
Stephen Miles & Nathan Bennett
A board’s greatest obligation is arguably to assure leadership continuity at the institution it serves. The passage of the Sarbanes-Oxley Act in 2002 brought this function more to the front and center of director responsibilities. Recent events in the financial services industry have served to bring an even brighter spotlight to the challenges associated with managing leadership transitions. The increasing emphasis placed on this board responsibility has for the most part not been accompanied by a sufficient evolution in terms of our understanding of best practices in succession. Key to the evolving succession planning process is to make the distinction...
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Stephen A. Miles is vice chairman at Heidrick & Struggles, a Chicago-based executive search and leadership consulting firm. Many of his coaching videos are available at http://bigthink.com/stephenmiles.
Nathan Bennett is the Whalen professor of management at the Georgia Institute of Technology in Atlanta Georgia. His professional webpage can be accessed at www.mgt.gatech.edu/bennett and he can be followed on twitter @yourcareergame. Together, Miles and Bennett are authors of “Riding Shotgun: The Role of the COO” (www.ridingshotgun.org) and “Your Career Game” (www.yourcareergame.com). Their third book, on the topic of succession, will be available in the spring of 2013.