Studies have shown that while it remains a critically important Board function, leadership transition planning is often ignored.
Board members must do a better job of hiring for the C-suite, with a broader list of criteria and a longer-term horizon in mind.
If board directors don’t have enough to worry about today, there’s the prospect of sudden departure of leadership at the top level.
Although Doyle's retirement announcement stunned the markets, CEO succession has been well planned by the Domino's board and the transition to Richard Allison is expected to be smooth.
Berkshire Hathaway Inc. named Gregory E. Abel vice chairman of noninsurance businesses and Ajit Jain vice chairman of insurance operations this week, a move that expands the company's board from 12 to 14 directors.