Management succession planning means that there's a new generation of key talent and precise plans for continuity for when your big guns retire or your young go-getters get head-hunted. THE STAYING power or tenure of company chairmen and managing directors is getting shorter. In the UK the average term of a chief executive is reckoned to be four years. In the US it can be as short as 18 months. We are living in stressful times. Is better management succession planning the answer? Can it avoid the often long search for the right candidate? Management succession planning is about a systematic approach to identify, develop and plan talented people for key positions in the company.
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