Cisco recently transitioned their CEO role after a long successful career by John Chambers. He was a leader who had a list of employees’ medical issues on his desk every day so that he could reach out to them personally.
Their succession planning, led by a friend of mine, was to consider all options – which is evident with who they chose. Their new CEO is a skip level promotion!
The process included:
- Assessment (customer focus, mindset, wired for change, handles pressure well, knows competitive landscape of business dynamics, aware of emerging business models)
- Development (influence on peers, experiences, high stake situations)
- Exposure (board, internal peers and external analysts)
- Setting up successors for success (board backing or executive sponsor, development plan, set up team to compliment leader)
Your successor may not always fit the profile…you could have a leapfrog candidate!
Does your succession process include assessment, development, exposure and setting up for success?
