CEO Succession Planning
When you look at your executive team, do you have several candidates who can become your next CEO?
At some point in the life cycle of every business, succession will come up. Succession planning is critical, yet something many companies put off until it is too late. This is a high-risk move every CEO and board ultimately must make. Where do you look for the best candidates to fill that role?
The research says a proper hire from inside the business has an 80 percent probability of success. Do you have an accomplished, high-performing executive who’s lined up to become your successor in the next 1-2 years? Many companies do have someone, but since they have never done the CEO job, there is plenty of risk in making the promotion.
How do you improve the odds of success?
Our CEO Successor Program is one possible answer. We will take your successor candidate and expose them to high-level CEO decision-making by pairing them with a seasoned CEO advisor and a curated CEO Peer Group of accomplished leaders. They will experience our disciplined approach to unlocking the business point of constraint, eliminating risk, and opening growth opportunities.
Who is a perfect candidate?
• A constant learner and open-minded to giving and receiving feedback.
• Is humble and collaborative?
• Must report to the CEO and hold a CXO level position.
• Minimum revenue for the company is $50M.
• Candidate will be interviewed and assessed for group readiness.
What is the time commitment?
• 8 to 10 One on one hour-long coaching sessions
• 1.5-day quarterly group meetings
• Invitation to attend The Lazy CEO Podcast live recordings
• Invitation to Annual CEO Summit
One of the dreams of a Founder can be to transition their business to their children… and grandchildren. But there are some tried and true approaches to ensure success. Jim Schleckser discusses.