What this is
Handovers announced so markets, staff and customers read them the same way. Badly announced successions move share prices and unsettle organisations for quarters.
What you get
Where it sits
Counsel for the individuals who carry institutional risk personally.
Frequently asked
Six to twelve months for a planned succession. Emergency succession needs a prepared plan sitting ready.
Then the wording is negotiated with legal alongside the exit terms. Communications and settlement have to be drafted together.
Enough to prevent speculation filling the gap. Vague statements invite worse interpretations than the truth usually warrants.
Board, executive team, staff, customers, investors and press all need to hear in a deliberate order and in a narrow window. Leaks in the gaps do real damage.
Ambiguity about whether a departing chief executive retains influence unsettles both markets and staff. State it plainly.
A successor unknown outside the company is a harder announcement. Twelve months of deliberate visibility beforehand changes how the news lands.
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