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Carol Stephenson talks about the importance of CEO succession planning during Board meetings.

Video Transcript

At Corporate Class we prepare senior leaders to excel in the high-powered world of corporate Boards.

Hello, and welcome to this week’s video tip: The selection, performance monitoring and succession of the CEO.

Every Board of Directors most important responsibility is the selection, performance monitoring and succession of the CEO.

Succession planning includes review and input of C-suite members and other high potential people.

Whenever the board meets, succession planning is always a discussion topic.

I assure you that your board is continually and actively looking for opportunities with you.

The better your board knows you and your capabilities, the better it can positively influence planning to help you reach your potential.

Jim Collins, the American author made it very clear in his book Good to Great that great companies focus first on who, then on what. Warren Buffet says the same thing.

They recognize having the right people in the right place is the critical element of success in a business more than strategy and tactics.

Click on the link below to watch a short video where Jim explains how a CEO candidate famously pitched this theory to great acclaim.

Also, be sure to click on the link below to visit our blog to read more about interacting with the board.

See you again soon!

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