Jennifer Reingold wrote a story for Fortune on the ‘science’ behind the CEO succession process that recently transpired at Procter & Gamble. I wrote an earlier blog praising the process at P&G but Reingold has managed to go into the process with just a bit more depth. According to Reingold,
It is something strange in this era of failed leadership, abysmal succession planning, and dueling egos: a transition atop one of the world’s largest and most successful companies that is notable for what’s gone right.
Like just a handful of other companies, including PepsiCo (PEP, Fortune 500) and General Electric (GE, Fortune 500), P&G (PG, Fortune 500) has seen its ability to groom top talent as a competitive advantage — as much of one as its trademark on Tide or patent on Pampers. Although the company is 172 years old, it has had only 12 chief executives, all insiders, and among them two family members.
Check it out.
Recommended Reading – CEO and CFO Career Consequences to Missing Quarterly Earnings Benchmarks – Academic Paper
September 24, 2008
Recommended Reading – SEC Targets CEO Succession Plans – New Risks for Boards, Says Heidrick & Struggles
October 30, 2009
Recommended Reading – Once an Outsider, Always an Outsider? CEO Origin, Strategic Change and Firm Performance – Rice
January 20, 2010
Recommended Reading – Successful leadership – how would you know? London Business School
February 13, 2009
Recommended Reading – Why ‘say on pay’ won’t work, Fortune
November 16, 2009
