
SUCCESSION PLANNING & ASSESSMENT
Lyceum provides advice toward sustaining best-in-class organizational development and succession planning programs. These programs will often include in-depth executive assessment, customized/personalized development recommendations, and market mapping and industry benchmarking.
A SUCCESSION PLANNING DIAGNOSTIC QUESTIONNAIRE
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Do your board and your Chief Executive Officer have a current plan for succession with specific goals and objectives?
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Who is responsible for succession planning on the board? Is it a committee responsibility or a whole-board responsibility along with the current CEO?
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Are goals and objectives for the succession plan part of the CEO’s performance goals and thereby part of the CEO’s evaluation and incentive-based compensation?
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Does the board periodically review the succession plan along with retention provisions, considerations and performance?
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Does the succession program include an interim, emergency candidate plan?
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Does your board utilize Executive Session oversight and is the succession plan including status of and the emergency plan for succession an agenda item for Executive Session?
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Does the board get exposure to the company’s top management candidates? Does this exposure include board presentation exposure and informal periodic meetings?
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Does the board have a rigorous evaluation and development plan for succession candidates? Have these candidates been able to prove their leadership competency in a competitive setting outside the walls of the company? For example, by service on public company boards?
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Are members of your current board qualified to step in as an interim CEO?
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Does your board periodically review succession development several layers deep within the company with an eye on succession-readiness five to ten years in the future?