Leadership succession
– filters matter

First things first.

The objective is straightforward enough: Find the right successor to the CEO or an executive board member. Getting there needs some direction: Should candidates come from within or from outside? Should they provide a vision, a business strategy, crisis management or implement the business plan? Which specific experience is required? Would someone making a lateral career move be a fit? Will the incoming candidate have time to grow into the role? What are the priorities of the incumbent, the supervisory board and other stakeholders?

Transparency inspires commitment.

Putting in place a structured selection process at the outset is well worth the effort as it creates transparency and increases commitment of the parties involved. A description of the ideal candidate to guide the search for internal and external talent forms the starting point. Actual candidates then undergo assessments and their profiles are compared to the critical competencies required for the role. Eventually, a ranking of potential successors will provide a solid basis for the final selection.

More reliable decisions.

Does this approach rule out tension or conflict when selecting leaders? That is not a realistic expectation. Interested parties will always have an influence on important corporate decisions. A well-balanced succession process makes this more visible, more manageable and increases the reliability of decision-making for all involved.