In a move that rocked the political sphere, Germany’s chancellor Angela Merkel has recently announced she’d step down in three years. Sure, that’s a ways off, but Merkel has held the position for more than decade and been a clear if not stable fixture that will be hard to replace. And for now, few experts see any obvious replacements.
Succession plans in the political world are, of course, different than those at a company. “There’s no assurance that the up-and-comer politician might not get impatient and challenge the leader to an election,” says Alan Guarino, Vice Chairman in our CEO and Board Services practice for Korn Ferry in New York. “It’s not like corporate America.” Still, a growing number of firms are waking up to the often-ignored importance building high-level pipelines far in advance. Read more here.
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