Succession Events
Observer April 2nd, 2011
Again, succession expectations go possibly, the way of all flesh. “Events, ..” as Harold Macmillan noted. This week, at Berkshire Hathaway and Murdoch Corp. Succession plans and their domino effects are hard enough to implement in ‘normal’ firms. In monoliths identified with one great man, the challenges are multiplied. GE being an exception. The deep bench model, which they invented, is easy to advocate. But the leaders and firms who have both the long term cultivation of talent front and center, and who assiduously plan succession and implement accordingly, are still rare. And often serve as talent engines for other institutions. As for stepping into the shoes of a Mr Buffet or Mr Murdoch? Winnable or not, whoever end up in those spots will be in pretty unchartered executive leadership territory. Or better said, entrepreneurial.
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