In succession planning, weigh up transparency, where
everyone including rivals knows the succession line,
against strategy, where the staff is buoyed and competitors
awed by the unexpected arrival of a new broom.
When considering a new appointment to the C-suite, boards and
shareholders will most likely look to someone who has operated in
the top sphere in another company, or someone who can be
promoted internally or has had previous experience of overall
accountability as MD.
To plot a course that will deliver one to the corner office, the strategy
would be to gain experience running a smaller business in a position
with overall accountability, or via a C-suite role in finance or operations.
The alternative route to the top is to gain the skills and resources
required to become the founder of a business.
The move will seldom be made from senior to executive
management, with the likely candidate often already being part of
the executive committee, with an operations or finance background.
Candidates from marketing, HR, a technical background or other
softer disciplines will in most instances need to gain additional
skill sets and experience.