Survey suggests boards are dropping the ball on succession planning

03/13/2014 | Washington Post (tiered subscription model), The

A survey of corporate directors suggests that most boards would take almost 90 days to replace a departing CEO, with only a quarter of respondents saying their company has viable in-house replacements. A lacking succession pipeline is often the fault of board directors, says governance expert David Larcker. "If you're not grooming someone, or don't at least know who's on the short list, there's really a gap," he says.

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