Advice & Counsel - Transitions: The Company's Role

At least half of the fault for leader transitions that fail is that the company that hired or promoted the new leader did not do its job well enough. There are two types of transitions: forced (where the incumbent leaves abruptly and anew leader is hired to replace him right away) and planned (where a designated successor is hired or promoted and assumes the responsibilities of the CEO gradually). Many companies prefer the latter... and if the conditions are right, it's usually best for all involved. But it's also the most complicated with a lot of moving parts and much that can go wrong to derail success. The company must get right: order and a game plan. That job falls to the four major players on the company side of the transition equation:

How these major players interact and combine forces for a successful hand off is always tailored for each unique situation and set of personalities.

* for more, see The Company's Role in Transitions at the Top, Ciampa & Dotlich, Wiley, 2015 (in press)