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Key Findings
+ Three-quarters of respondents say either the board or a board committee has primary responsibility for CEO succession planning, while 20% delegate that duty to the current CEO. + Forty-two percent have identified one or more CEO succession candidates but do not yet have a timeline or plan of action. Thirty-one percent have an idea of their timeline but no succession candidates. + More broadly, one-third have put together a quantified timeline of expected retirements in the C-suite over the next five years, while 52% have an informal understanding of those retirements. + CEOs, chairs and independent directors say their…
Who’s in charge of succession planning? According to Bank Director’s 2026 Compensation & Talent Survey, sponsored by Chartwell Partners, most bank leaders say that responsibility for CEO succession planning belongs to either the board as a whole (45%) or a board committee, such as compensation or governance (31%). However, 20% delegate that duty to the CEO. But while the CEO may weigh in on candidates, the board ultimately should own the process. The board should consider any skills gaps in potential successors and how those might be addressed. Ownership of the process also includes pinning down a definitive timeline, communicating…
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WRITTEN BY
Laura Alix
Director of Research
Laura Alix is the Director of Research at Bank Director, where she collaborates on strategic research for bank directors and senior executives, including Bank Director’s annual surveys. She also writes for BankDirector.com and edits online video content. Laura is particularly interested in workforce management and retention strategies, environmental, social and governance issues, and fraud. She has previously covered national and regional banks for American Banker and community banks and credit unions for Banker & Tradesman. Based in Boston, she has a bachelor’s degree from the University of Connecticut and a master’s degree from CUNY Brooklyn College.