Succession planning is an important topic for Dennis Carey. In his capacity as the vice chairman of Board and CEO services at Korn/Ferry, Dennis Carey is often asked to help companies fill in the void when an executive either retires, dies suddenly or for any one of a number of reasons leaves his leadership role on the board of a company.
Sometimes, because there has been no advanced planning for how to replace the retiring executive, the company is left in a vulnerable, leadership-less condition which can wreak havoc on the normal functioning of a company’s business. Left without leadership and without a plan to appoint the next executive in an orderly fashion, companies will find that they appoint someone in a hasty manner, and might not always pick the perfect person for the job.