Succession Planning Case Study

The Problem

We were approached by a Board member who was concerned about retaining a much sought-after CEO. During an initial discussion, we established the company also faced longer-term succession planning challenges with two other C-suite members – one because the incumbent was nearing retirement, and the second because of concerns around performance. Accordingly, our client required sight of successor talent and availability for each of these three crucial leadership roles.

The Solution

We used both our existing network and our in-house research team to identify fifty potential candidates for each of the three roles. In consultation with our client, we pared this 150-person longlist down to just 20 for each role. We then reached out in strictest confidence to the selected individuals. Over a series of high-level meetings, we established each person’s availability, aspirations, pay details, personality style and overall fit for the opportunity.

Results

• At our final client presentation, we made our top recommendations for each role.
• We also provided large volumes of benchmark data on compensation, governance and leadership structures.
• Our client subsequently entered into initial conversations with twelve successor candidates
• Nine of these dialogues are ongoing, with the two parties liaising regularly and updating each other on any significant developments.

Outcome

Our client considers it has now fully de-risked the departure of any of the three incumbents. The company has since invited Wilbury Stratton to undertake a full C-suite successor plan.