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Why You Still Can’t Ignore Succession Planning
Emily McCormick, vice president of research for Bank Director
In the evaluations that Bank Director conducts on behalf of bank boards, it’s common for directors to voice their dissatisfaction and uncertainty regarding succession planning, particularly for the chief executive. So I wasn’t too surprised to find in Bank Director’s 2017 Compensation Survey that almost half of the responding directors and senior executives of U.S. banks report that their bank hasn’t identified a successor or potential successors to replace the CEO. The trials and tribulations of developing a successor is a problem faced by banks of all sizes: JPMorgan Chase & Co. announced on June 8, 2017, that its chief...
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Emily McCormick is the vice president of research for Bank Director, an information resource for directors and officers of financial companies.You can follow her on Twitter at twitter.com/ehmccormick or get connected on LinkedIn.