The Art of Succession Planning
- Buy the Book
A successful succession plan goes beyond identifying the next CEO to instill a culture of leadership and high performance at every level of the organization. The Art of Succession Planning introduces this concept as the “CEO Culture.”
A concise, discussion-provoking read, this book walks institutions through a process co-developed by author Michelle Rae Gula and longtime banker and lifetime businessman Elmer Gates.
When implemented full scale, from the front line up through the board, the process attacks increasing efficiencies and decreasing net overhead. Further, it identifies future internal candidates for executive positions while increasing the capabilities and productivity of all positions.
- How to engage the board and senior management in the process and the benefits thereof.
- How to grow your own internal leadership pipeline instead of hiring someone else’s.
- How to maintain momentum for taking the succession plan enterprise-wide.
I found The Art of Succession Planning to be a very useful tool in looking at the present and the future of my community bank. The straightforwardness of the book adds value to any CEO or bank executive who reads it. The book is a road map on how to address an ongoing concern of boards of directors and regulators and more importantly protect the legacy and ensure the ongoing value of a bank.
Stephen Hailer, North Akron Savings Bank