One in three CEO successions fail. Despite this, two-thirds of U.S. public and private companies admit they have no formal CEO succession plan in place. And, the cost of poor CEO succession planning is big. Very big.
In most cases, companies fall into one of two camps when it comes to CEO succession efforts – those that appear to either ignore or table the issue, and those with the right intentions of addressing the issue but misfire on execution. No matter what camp you're in, there's always room for improvement. Read our Six Steps to Successful CEO Succession Planning.