Importance of Astute Strategies for Leadership Transition within Organizations
Rewritten Article:
In her 2020 book, "Who Comes Next? Leadership Succession Planning Made Easy," Mary C. Kelly puts forth the notion that inadequate leadership succession planning may well be the next major business crisis.
As she writes, "With leaders constantly moving up the ranks or calling it quits, it's simply inevitable." This prediction, made over three years ago, has proven to hold some merit as the 2023 corporate scene has shown a steady stream of CEO shuffles.
Adidas, for instance, has welcomed Puma executive Bjørn Gulden as their new CEO. Similarly, Visa promoted longtime president Ryan McInerney to the top position. Even CNN has replaced Chris Licht with a former New York Times CEO, Mark Thompson.
The world of leadership transitions continues to evolve, with Mary C. Kelly's book serving as a guiding light for businesses aiming to navigate these tumultuous waters. While her book doesn't specifically delve into their circumstances, recent high-profile examples of CEO succession can be seen in the transition at General Motors when Mary Barra replaced Dan Akerson in 2014, and at General Electric with the succession of John Flannery by Larry Culp in 2018.
[1] Mary C. Kelly, "Who Comes Next? Leadership Succession Planning Made Easy"[2] General Motors Succession: Mary Barra Becomes First Woman CEO, Fortune Magazine, January 16, 2014[3] General Electric Succession: Larry Culp Named New CEO, CNBC, October 1, 2018
- The revolving door of CEO positions has been observed in various businesses, such as Adidas, Visa, and CNN, where Puma's Bjørn Gulden, Ryan McInerney, and Mark Thompson, respectively, have recently taken leadership roles.
- Mary C. Kelly's book, "Who Comes Next? Leadership Succession Planning Made Easy," suggests that the lack of robust leadership succession planning might lead to a future business crisis due to the frequent movement of leaders up the ranks or their departure.
- In 2014, Mary Barra swung into the CEO position at General Motors, replacing Dan Akerson, marking a significant transition in the company's leadership.
- In 2018, Larry Culp upped his position at General Electric to lead the company, succeeding John Flannery.
