Values
Executive Transition
Sample #4
This sample incorporates succession planning into the annual performance review and assigns responsibility to both the executive committee and the chief executive.
Preamble
There are two types of chief executive transitions and, although they share some key elements, they differ in the challenges they present to the board and in how they are implemented. One is the planned transition in which the chief executive notifies the board of intent to leave, enough in advance to allow the board and the organization to prepare. The second is a sudden departure, whether by sudden change in circumstances, illness, death, or termination by the board.
In either case, the organization needs to be prepared. Selecting a new chief executive may well be the most important task ever undertaken by the board. It is a pivotal opportunity.
Statement
Annually, as part of the chief executive performance review, the chief executive discusses his or her succession plan with the executive committee. The chief executive, through this discussion, advises the executive committee what they should do in the event of a sudden departure in order to ensure organizational stability until a new chief executive is appointed.
In addition, the chief executive and executive committee ensure the organization always has in place
• An up-to-date chief executive position description
• A current strategic and operating plan
• An operating budget that includes adequate salary and benefits to attract a competent successor
• Knowledge of best practices in executive recruitment
Excerpted from The Nonprofit Policy Sampler, Second Edition by Barbara Lawrence and Outi Flynn, a publication of BoardSource, formerly the National Center for Nonprofit Boards. For more information about BoardSource, call 800-883-6262 or visit . BoardSource © 2006.
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