Private Company Directors

Smaller Companies Most Likely Review Succession Planning Only When Necessary

Smaller companies continue to devote fewer resources to and lag behind their larger peers in CEO succession planning, according to a survey by The Conference Board in the latest edition of CEO Succession Practices. 

Companies with annual revenue of less than $100 million were the only group to report reviewing succession planning only when circumstances warrant (due to retirement, sudden death or illness, or another emergency), while among all other size groups and across all industry groups, the majority of companies reported that their boards review the CEO succession plan at least annually.

Directors Record