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Opinions and views from expert CFOZone members.

Tag >> succession planning
Jun 17
2010

Most CEOs have no heir apparent

Posted by SherylNash01 in succession planninggovernanceCEOscareer/management

SherylNash01

More than half of companies today cannot immediately name a successor to their CEO should the need arise, according to new research conducted by executive search and leadership consulting firm Heidrick & Struggles and Stanford University's Rock Center for Corporate Governance.

"The lack of succession planning at some of the biggest public companies poses a serious threat to corporate health, especially as companies struggle toward a recovery," said Stephen A. Miles, vice chairman at Heidrick & Struggles in a prepared statement. "Not having a truly operational succession plan can have devastating consequences for companies - from tanking stock prices to serious regulatory and reputational impact."

Apr 28
2010

Vast majority of CFOs have no succession plan

Posted by MQuinn in turnoversuccession planningrecruitingCFOscareer/management

MQuinn

I have the privilege of assembling our weekly CFO Moves column, so the finding of a new survey that the vast majority of finance chiefs haven't identified their successor doesn't really surprise me. I've seen a lot of press releases stating, "The company is considering both internal and external candidates to fill the position."

Still, the percentage of companies with no CFO succession plan is pretty staggering. The aforementioned poll of 1,400 CFOs by Robert Half Management Resources found that 83 percent have not identified a successor for their position.





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