One key to superior long-term financial performance is managing leadership succession
The fact that two-thirds of non-financial S&P 500 companies did not survive during the 20-year period from 1988 through 2007 attests to the rapidly changing nature of long-term success. In a country such as the United States that lionizes success, business leaders who achieve extraordinary short-term financial gains for their companies often become celebrities. Yet, behind the headlines, larger questions remain: How does a company secure long-term success and value for shareholders? Does corporate performance correlate with CEO leadership over an extended period? And more specifically, what do we know about the importance of effective succession management?
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