50
52
54
55
The Procter & Gamble Company: A case of sudden retirement
Time Warner Cable Inc.: A case of CEO apprenticeship
Wal-Mart Stores, Inc.: A case of insider promotion
WellPoint, Inc.: A case of an interim appointment and an outside appointment
57 Part IV: Shareholder Activism on CEO Succession Planning (2012–2013)
60
62
Google Inc.
Sirius XM Holdings, Inc.
63 Appendix: The Conference Board Roadmap to CEO Succession Planning
69
70
About the Authors/Acknowledgments
Related Resources from The Conference Board
Index of Tables and Charts
TABLES
12
Table 1 CEO succession rates by the numbers (2000–2013)
14
Table 2 Number of successions in each industry (2000–2013)
30
Table 3 CEO succession cases in 2013 used for press release analysis
58
Table 4 Succession planning shareholder proposals (2012–2013)
CHARTS
12
Chart 1 CEO succession rates (2000–2013)
13
Chart 2 CEO succession rate by company performance (2000–2013)
13
Chart 3 CEO succession rate by departing CEO age (2000–2013)
14
Chart 4 CEO succession rate by industry (2013)
14
Chart 5 CEO succession concentration by industry (2013)
15
Chart 6 Departing CEO age (2000–2013)
15
Chart 7 Departing CEO age by industry (2000–2013)
16
Chart 8 Departing CEO tenure (2000–2013)
16
Chart 9 Disciplinary departures (2000–2013)
16
Chart 10 Disciplinary departures by industry (2013)
17
Chart 11 Incoming CEO age (2000–2013)
17
Chart 12 Incoming CEO age by industry (2000–2013)
17
Chart 13 Inside promotions and outside hires (2011–2013)
18
Chart 14 Average tenure-in-company of insiders (2000–2013)
18
Chart 15 Incoming CEOs who are “seasoned executives” (2011–2013)
18
Chart 16 Incoming CEO professional qualifications and skills (2011–2013)
19
Chart 17 Joint election as board chairman (2011–2013)
22
Chart 18 Responsibility for CEO performance review (2013)
23
Chart 19 Frequency of CEO performance review (2013)
24
Chart 20 Responsibility for CEO succession planning (2013)
25
Chart 21 Frequency of CEO succession plan review (2013)
26
Chart 22 Companies adopting CEO auditioning practice (2013)
27
Chart 23 Policy on board retention of departing CEO (2013)
27
Chart 24 Board access to employees without CEO approval (2013)
28
Chart 25 Mandatory CEO retirement policy (2013)
28
Chart 26 CEO age limit (2013)
29
Chart 27 CEO succession planning disclosure (2013)
32
Chart 28 Responsibility for succession announcement (2011–2013)
32
Chart 29 Succession effective date (2011–2013)
33
Chart 30 Stated reason for departure (2011–2013)
34
Chart 31 Stated role of the board in succession planning (2011–2013)
35
Chart 32 Director and management changes in conjunction with CEO succession (2011–2013)