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Saturday, February 28, 2009

Passing the Baton

This is the 5th and FINAL in a series of five posts from a book review of Succession: Are You Ready? by Marshall Goldsmith (Harvard Business Press, 2009).

  1. Making a choice: If there is no clear candidate, then maybe the exiting CEO should wait for some certainty. However, when there is a clear winner, there’s no sense extending suspense or drama. Make a choice and start grooming her or him. Read more in this section to avoid big errors in judgment.
  2. Don’t take credit: If you did it right and got stakeholders involved in the process, give them the credit for their efforts. Marshall shows you how in this section.
  3. Leave gracefully, don’t badmouth the new guy when you’re on the outside looking in, and do NOT come back after you retire. Move on to something new and exciting for yourself. This is a message to exiting CEOs and NFL quarterbacks!

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