Kerry Round, FCG’s Post

Succession planning goes beyond filling bums on seats. It's about identifying and developing future board members in line with the company's strategic direction, bringing in new skills, experiences, and diversity to address any gaps. Proactively preparing for board transitions minimises disruptions, fortifies governance, and ensures the right fit for your board. Our steps include: - Establishing current arrangements. - Securing alignment between the Chair and CEO. - Ensuring clear ownership of the process. - Aligning with the organisation's strategy and future needs. - Articulating the Succession Plan. - Regularly evolving and reviewing the plan - You've got it, use it! If you need help gathering your thoughts together and implementing your own succession plan - drop us a line, we love this stuff! #SuccessionPlanning #BoardGovernance #StrategicAlignment #LeadershipDevelopment

The key to great succession planning? Start early and embrace the humility to prepare someone to excel beyond you. Recently mentioned in Forbes, our #client Cornerstone OnDemand's CEO, Himanshu Palsule, shares his thoughts on what executives should be looking for when thinking about succession planning, and how executives can pass along key skills to the next generation: https://bit.ly/3ARIQ2N #ClientSpotlight #WeMoveIdeas

Succession planning has always been important, but not critical. Now, in 2024, it has evolved from "should do" and "must-do" to "cannot wait." Many external factors make it increasingly pertinent for organizations and leaders to identify their next-in-line. So "don't wait" to read the Inc article, 3 Succession Situations to Plan For (and why every CEO needs to put succession planning at the top of their list) https://lnkd.in/gKZvuf2c.

Struggling with succession planning? You're not alone. Many business leaders face the challenge of ensuring their legacy while securing the future of their company. At SUMMIT, we provide tailored solutions to simplify this complex process. Our expert team will guide you through creating a robust SUCCESSion plan that safeguards your vision and ensures continued growth. Let's turn your succession challenge into a seamless transition. Ready to secure your business's future? Follow and connect with me to get started. #SuccessionPlanning #BusinessGrowth #FutureReady #SUMMIT

So what’s next? Are you worried about succession planning or how to exit your business? You're not alone. Many business leaders face the challenge of ensuring their legacy while securing the future of their company. At SUMMIT, we provide tailored solutions to simplify this complex process. Our expert team will guide you through creating a robust SUCCESSion plan that safeguards your vision and ensures continued growth. Let's turn your succession challenge into a seamless transition. Ready to secure your business's future? Follow and connect with me to get started. #SuccessionPlanning #GuidedBusinessGrowth #FutureReady #SUMMIT

Rushing through succession planning? Think again. Slow down, strategize, and succeed. In this NACD article, Suzanne Bates and Sarah Woods dive into the step-by-step approach to succession planning that will ensure long-term organizational prosperity: https://bit.ly/3QptPKi #StrategyMadePersonal #SuccessionPlanning #LeadershipDevelopment #ExecutiveLeadership #StrategicThinking

Effective board renewal policies are essential for avoiding the pitfalls of long-serving directors who may resist leaving. By implementing clear guidelines for board turnover, organizations can ensure a steady infusion of new talent and ideas. This approach helps maintain board vitality and strategic agility. Key elements include term limits and structured succession planning to manage transitions smoothly. #BoardRenewal #Innovation #ConLivissianis

What’s Your Business Plan for the Future? Are you prepared for the day you step away from your business? Whether you’re planning to retire or dealing with the unexpected, having a clear succession plan isn’t just a safety net—it’s a strategy for long-term success. Succession planning ensures your business stays on course through transitions, protects your top talent by showing them leadership pathways, and preserves the legacy you've worked so hard to build. Plus, it significantly enhances the value of your business, making it more attractive to future buyers or investors. The time to plan isn’t "someday"—it’s now. A solid strategy today ensures that your vision, values, and hard work will thrive tomorrow. Ready to secure your business’s future? Let’s talk about how to make it happen. . . . . #SuccessionPlanning #BusinessStrategy #ExitPlanning #RizolvePartners

With the vision for your family and business established, it’s time to design a concrete succession plan. Here’s how to approach this: 1️⃣ Work backwards: Start with your end goal and map out the steps required to achieve it. Address any immediate challenges and anticipate potential roadblocks that may arise during the transition. Whether it’s leadership readiness, financial stability, or family dynamics, understanding the hurdles ahead will help you create a robust plan. 2️⃣ Consider the three subsystems: Every family business consists of three subsystems—the family, the business, and the owners. Your succession plan needs to support all three and ensure that each is prepared for the change. This involves setting clear responsibilities and roles for each member involved in the transition. 3️⃣ Plan for the long-term: Your business and family will evolve over time. Make sure your succession plan is adaptable to changing circumstances. Incorporate governance structures such as family constitutions, advisory boards, and regular strategic planning sessions to ensure the plan remains effective. In the next post, we’ll cover the importance of taking action and moving your succession plan forward. #successionplanning #businessstrategy #leadershiptransition #familybusiness #strategicplanning #businessgrowth #businessgovernance

Proper CEO succession planning has the potential to be a critical measure of difference for you, your team and your organization. Find out how to get it right from my colleague Bob Stark: https://lnkd.in/e_we-ZeG #SuccessionWithSpencerStuart