Planning for Succession

01/05/2011

You can't teach creativity; all you can do is let it blossom, and it blossoms in play!
Peter Gray, Psychologist

Large corporations in the USA have had a poor track record in finding capable CEOs. Harvard Business Review (January 2011) reports that in the past decade the average tenure for Fortune 500 CEOs has dropped to about four years. In this issue, A. G. Lafley provided some suggestions for corporations for improving their success in hiring new CEOs, some of which can be applied to early childhood organizations:

The CEO and the chairman of the board lead the succession process, with the board actively involved. Succession is regularly on the agenda at board meetings. It rates a full board meeting once a year and scheduled reviews throughout the year.
Directors have access to candidates all the time, not just at board meetings.
Succession planning is not a periodic exercise; it never stops. When a CEO is hired, planning for succession starts anew.
The board considers not just financial results and strategic and leadership strengths, but — and perhaps above all — character, integrity, and judgment.

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