Succession Planning

Succession Planning

Let’s face it: Most CEOs don’t like to talk about succession. Why? It makes them feel vulnerable and reminds them that even they are replaceable. But regulations require a clear succession plan for all key roles to reduce enterprise risk.

We facilitate succession planning conversations objectively, but firmly, since these discussions are critical. In public companies, the questions are about the structure and team that will lead the company forward. In family businesses, the discussions are much more personal. Do you want to keep the business in the family? Is it important to keep a family member as CEO or Chair, or should it be led by a professional manager? Are all generations in agreement about what is best?

All the while, Shields Meneley takes the long view. Where do people need to step up and develop? What are the key positions in the organization? It’s easy to think of the “big” roles, but go deeper than that. What if something happens to your payroll manager? Will payroll actually go through? These questions can be challenging, but they need to be answered now rather than down the road.

As we dig deeper into the process, we may find potential roadblocks to succession that need to be addressed now. If a CEO isn’t ready to give up the reins, what will this mean to grooming the next leader?

It’s a complex and often emotional process – which is precisely why organizations look outside for guidance and rely on the experience of Shields Meneley Partners. We do our part to shape a plan that is practical and that preserves important relationships now and in the future.

Read: Board Performance Improvement.

What Our Clients Say:

“It didn’t occur to me that I could have more than one role after I left my organization. Hugh helped me see my options, research and structure a roadmap, and introduced me to his high level contacts. I am now on two public boards and one non-profit.”

— Chief Marketing Officer, $50B Global Corporation