Why do we need a succession plan?   We believe that good governance demands that boards have both strategic plans and succession plans, reviewed annually. A succession plan helps ensure a smoother executive transition. Boards may adopt succession plans for planned (e.g., retirements) or unplanned transitions, (e.g., short departure notice, dismissal, illness, disability, or death.)

Creating a leadership succession plan is more than simply drafting another document. Ideally, succession planning is a facilitated process that explores and plans for how organizations will respond to executive leadership departures. TMC works with boards on developing succession plans that address both planned and unplanned departures.