We also believe that there is a stronger willingness on the part of board to consider CFOs for the CEO role (witness Ed Liddy at Allstate, Alan Lacy at Sears, Tom Falk at Kimberly-Clark, Harry Kraemer at Baxter), and therefore companies are looking for succession prospects when filling the CFO chair.
"We were getting close to the end of Kim Jong-il––hadhad been sick and then came back in power and was looking for succession," says Baker. "He realized he had to have some real strength to give his successor because none of his sons were prepared to lead the country".
Critics also attacked a quadrupling of his own salary to £1.3m in 1987, while the City was wondering how the takeover juggernaut could keep rolling, and was increasingly looking for a succession strategy as Hanson and White moved past normal retirement age.
Like many Boomer business owners looking for a succession strategy, we were concerned new owners would not preserve the values and community legacy of our life's work.
Particularly, they are looking for companies that have succession planning issues, where the owners are looking to get out of day-to-day operations.
"This is not a company which is in a panic because there's not a succession plan, looking for a Lou Gerstner type to come parachuting in when I.B.M. was at death's door," said Jeffrey Sonnenfeld, president of the Chief Executive Leadership Institute at the Yale School of Management.
Scotland's Paul Lawrie, who has made the cut just five times in 12 Opens since his shock win at Carnoustie in 1999, shared second place with former Masters champion Zach Johnson on five under, with Johnson looking for a second win in succession after claiming the John Deere Classic on Sunday.
Congo, a vast place that is home to some eighty million people, suffered centuries of exploitation by traders from East Africa and Portugal, Belgium's King Leopold II, and the Belgian government — a succession of predators looking for slaves, ivory, and rubber.
Those looking for clear insights into Mr. Buffett's succession plans, one of Wall Street's favorite parlor games, will be disappointed.
The authentication process would work by displaying at least one image to be identified from the user's library, though it could also display a number in succession if users are looking for more security.
As boards think about the competencies they want among their members, they absolutely must look for experience with succession itself, not just with succession planning.
