Succession Planning

As a CEO, do you need a formal succession plan?

Well, not technically. But let me ask it a different way:

Do you 𝘩𝘢𝘷𝘦 to bring a map when you hike to a new destination?

Nope… But why wouldn’t you want one? (See: the popularity of AllTrails, aka Some Trails.)

I recently was talking with a CEO about the person he feels could be a potential successor for him.

Me: “Have you asked her if she wants the role?”
Him: <Pregnant pause.> “Not yet.”

Ok then. Maybe we should start there.

Then I asked about what gaps she has, and he said she needs to build her financial acumen.

Me: “What’s your plan to help her build those skills?”
Him: <Pregnant pause.> “Um… I don’t have one.”

Here’s the thing: this isn’t an emergency. There’s time. But without an intentional plan and a real conversation, she won’t be ready when the moment comes.

But you don’t get to build any of it if you haven’t had the conversation.

And hell, she might not even want the role.

Some years back, I interviewed for a VP of Talent role—right in my wheelhouse. I clicked immediately with the CHRO. But I was clear with her: “Just so you know—I’ve done your job before, and I don’t want it again. If you’re looking for a successor, I’m not your person.”

She later told me I was perfect for the job… but she needed a successor, so she passed.

That’s what succession is really about: Not just filling a seat, but shaping a future.

So if you’re starting to think about your own legacy, here are a few trail markers to guide the way:

• Can you build from within, or will you need to bring someone in from the outside? Internal development usually brings stronger continuity 𝘢𝘯𝘥 optics.
• Have you had honest conversations about interest and ambition?
• What are the gaps that need to be closed? How will you support the successor in closing them?
• How will you navigate the folks who 𝘵𝘩𝘪𝘯𝘬 they’re next in line but aren’t?

Here’s what I know for sure: How you leave is just as important as what you do while you’re there. And that includes how well you prepare a successor.

Because while your succession plan is about business continuity and de-risking the business, it’s also about your legacy.

So what’s your approach to succession? Hope? Or intention?

I’d love to hear how you’re thinking about it.

Hey there! I’m a leadership team whisperer, executive coach, and speaker. I guide leadership teams in high-growth companies to achieve rapid growth in a healthy, sustainable way. I coach senior leaders to discover the path to lead with ease.

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