The art of exiting successfully

Ambitious business leaders may feel persuaded that they have no competent successor

There is considerable literature on how to identify talent and groom for succession. Another event should occur simultaneously for succession — a successful departure by the predecessor. Both have to work in unison or else the succession wobbles. Former Unilever chairman Mike Angus had once said, “The success of my judgement of a CEO candidate is visible only when the chosen CEO’s successor is functioning well.” 
 
Reginald Jones took the top job at GE in 1972. During his much acclaimed tenure of nine years, GE outperformed the US gross domestic product (GDP) by over 25 per cent. Jack Welch