Closing the Gap on Succession Planning
Many boards are confident in their ability to handle the sudden departure of the CEO or a key executive, but they’re less secure when it comes to planning for the long-term future of the organization’s leadership. Bank Director’s 2023 Compensation Survey, sponsored by Chartwell Partners, revealed gaps in the effectiveness of long-term succession planning for the CEO. Overall, 82% of responding directors and chairs expressed confidence in the succession plan if a CEO or other key executive were to leave suddenly. Only 63% said the same of the long-term succession plan for the CEO; another 28% said they have no...
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