Integrating Your Succession Plan
Every leader faces the need to turn over responsibilities at some point in his or her career.
Yet, in a 2010 survey by the search firm Heidrick & Struggles and the Rock Center for Corporate Governance at Stanford University revealed that only 54% of boards were grooming a specific successor, and 39% had no viable internal candidates who could immediately replace the CEO if the need arose. As a result, new CEOs fail to meet performance expectations in the first 18 months. (Source: Harvard Business Review)
How can you identify true potential and build confidence in your leadership pipeline?
Alan Mulally– President and Chief Executive Officer, The Ford Motor Company says that every leader ought to integrate succession planning and raising up the next generation of leaders right into their business plan.
President and Chief Executive Officer | The Ford Motor Company (2006-2014)
Alan Mulally led Ford’s transformation into one of the world’s leading automobile companies and the #1 automobile brand in the United States—returning it to profitability and changing the way the organization works. Prior to joining Ford, he served as executive vice president of The Boeing Company. Mulally has been named No. 3 on Fortune’s “World’s Greatest Leaders” list and one of “The World’s Most Influential People” by TIME Magazine.