- Posted on August 25, 2011
High Profile Succession
Yesterday's announcement of the resignation of Steve Jobs as CEO of Apple has resulted in front page, high profile media attention. Of course, the main story is about "what's next" given his strong, visionary, innovative leadership at Apple.
It's clear to me that both Mr. Jobs and Apple's board proactively thought about and planned for succession. Not only was Tim Cook groomed for the CEO position, but the entire executive team was orchestrated and developed to have the depth and breadth to move the company forward.
Yes, this is a high profile succession story. What I hope it triggers for you is a wake-up call about your own succession plan. Whether you're running a division of a corporation or building a small business, succession strategies are integral for your future success.
One of the challenges with the subject of succession is that it is important, but usually not urgent. As a result, too many leaders fall into the trap of dealing with succession when a crisis hits instead of really thinking it through in advance.
Planning for succession doesn't threaten your current role. On the contrary, it gives you the opportunity to develop additional bench strength that will likely provide a boost to your business today.
The opportunity to mentor your successor (if that person already works in your organization) can provide operational as well as philosophical continuity. It also gives the successor a chance to develop areas of skill that may be undeveloped at this time.
Succession is a huge topic, and I hope you follow the Apple story in the weeks ahead so you can see how an industry icon makes it work.
Have a great week!
Copyright 2011 Lisa M. Aldisert
Quote of the Day
"The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy."
- Martin Luther King, Jr.
On this Day in History
In 1920, Ethelda Bleibtrey became the first U.S. woman to win in the Olympics (swimming competitions).