CEO succession
Okay kiddo, so you know how sometimes the person who runs a company decides they don't want to be in charge anymore? That's when the company has to find someone new to take their place. This is called CEO succession.
But it's not just a matter of finding anyone to be in charge. The company has to find someone who is qualified and can lead the company well. The person leaving the role also plays a big part in making sure the new person is trained and ready to take over.
Sometimes, the new CEO is already working at the company and is promoted from within. Other times, the company has to search outside for a new leader. This can take a lot of time and effort, as the company needs to make sure they find the right person.
Overall, the goal of CEO succession is to make sure the company stays strong and successful even when the person in charge changes. It's like playing a game of musical chairs, but instead of music, it's the search for the perfect person to lead the company.
But it's not just a matter of finding anyone to be in charge. The company has to find someone who is qualified and can lead the company well. The person leaving the role also plays a big part in making sure the new person is trained and ready to take over.
Sometimes, the new CEO is already working at the company and is promoted from within. Other times, the company has to search outside for a new leader. This can take a lot of time and effort, as the company needs to make sure they find the right person.
Overall, the goal of CEO succession is to make sure the company stays strong and successful even when the person in charge changes. It's like playing a game of musical chairs, but instead of music, it's the search for the perfect person to lead the company.