5 reasons CEO successions fail

Picking the next leader is arguably a board's most important job.

by Thomas Keil and Marianna Zangrillo

CEO succession is without a doubt one of the most important events in any corporation. Yet a large fraction of CEO successions fail with often detrimental effects on all parties involved. Billions in shareholder value can be destroyed, thousands of jobs lost, and the high-flying career of the appointed CEO potentially destroyed too. 

While corporate leaders are used to conducting post-mortems on failed projects, seldom does anyone make an honest review of what went wrong with a CEO succession and therefore mistakes are often repeated. 

Here are five aspects of succession failure to look out for.

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