5 succession-planning tips for smooth leadership transition

Fast Company (Apr 26, 2024) "5 succession-planning tips for smooth leadership transition" lays out concrete moves: acknowledge your weaknesses and hire for counter-strengths; be direct about your intent with the chosen successor; bring successors into your plan once identified; and several more practical disciplines for orderly handover. The piece cites a relevant baseline statistic to anchor the message: planned CEO successions accounted for just 23% of all outgoing CEOs in Q2 2024 — proactive succession planning remains uncommon despite its importance. Useful practical frame for SEA mid-market founder-CEO boards that defer succession discussions until the last possible quarter.