The case describes a publicly owned company that takes pride in having had five home-grown CEOs. However, its succession planning breaks down during the COVID-19 crisis. With the current CEO set to exit under a fixed-term contract in two years, the board reopens its succession plan, only to face an unexpected setback: two of the prominent candidates identified as successors have left the company. The board must decide how to secure leadership continuity. Should the succession process be redesigned to ensure a smooth transition? Should the company abandon its long-standing tradition of appointing internal successors?
The case is designed to support class discussion and students’ independent learning on board-level CEO succession planning under time pressure and uncertainty. It places participants in the role of the board and asks them to develop and defend a succession approach, assessing options such as accelerating an internal candidate, launching an external search, appointing an interim leader, or extending the incumbent CEO’s term, while weighing the trade-offs of each.
- Succession, board of directors, CEO leadership
- Q32026
