This Working Life: Why every board must have a succession plan

To ensure good corporate governance, company boards must be constantly seeking to recruit diverse members with the right skills and experience

21st November, 2021
This Working Life: Why every board must have a succession plan
Some boards are still relying on their own networks, which is not an open, transparent or independent process. Picture: Getty

Board succession planning is an important tenet of good corporate governance. Yet in the Institute of Directors’ latest quarterly director sentiment monitor survey, one third of respondents said that their primary board does not have a succession plan in place.

This raises many flags, not least in terms of planning board diversity. A board with no succession plan is not future-proofing the business nor planning for diversity, which is essential for an effective, high-performing...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Interview with Pat Lucey of Aspira: ‘People who are curious about a job will learn a whole lot more than those who just want to get the job done’

A fairer and more resilient pension system benefits us all

This Working Life: After flexibility and remote working, next is the four-day week

This Working Life: How to lessen the fallout of employee exodus