The Art and Science of Finding the Right CEO
By: A.G, Lafley I Publisher: Harvard Business Review I Published: 2011 I Resource Added: 2013
Using A.G. Lafley’s succession plan at Proctor and Gamble as a case study, the authors argue that succession planning for the next CEO must begin even as the current CEO begins work. In grooming leaders internally for CEO succession, the authors describe the following best practices: define competencies and measure against them, involve the board early and often, make it the CEO’s responsibility to develop the organization’s next leaders, adapt the development process to address the changing issues faced in senior leadership positions, explore multiple scenarios and contingencies, and remain flexible but focused. Lafley notes that this process not only helped P&G identify and develop his successor as CEO, but also a number of top-level positions. This article is useful for the CEO, leadership team and board.