Successful CEO transitions require preparation and intensive communications training. Even if the transition appears orderly, there are always missteps.
Former federal Reserve Chairman Alan Greenspan’s successor Ben Bernanke recently misspoke when making informal remarks to a CNBC anchor during dinner. The remarks created havoc with the stock market. Bernanke later said that it “was a lapse in judgment on my part. In the future, my communications with the public and the markets will be entirely through regular and formal channels.”
The RHR/Directorship research underscores the need for ready-to-go New CEO 100 Day Plans along with the more typical Crisis Preparedness plans that most companies already have on hand.