Untitled - Saigontre

PREFACE TO THE THIRD EDITION
A colleague told me over the phone the other day that ‘‘there have been no
new developments in succession planning for decades.’’ My response was,
‘‘Au contraire. There have been many changes. Perhaps you are simply not
conversant with how the playing field has changed.’’ I pointed out to him that,
since the second edition of this book was published, there have been many
changes in the world and in succession planning. Allow me a moment to list a
few:
Changes in the World
▲ The Aftereffects of 9/11. When the World Trade Center was destroyed,
172 corporate vice presidents lost their lives. That tragic event reinforced the
message, earlier foreshadowed by the tragic loss of life in Oklahoma City, that
life is fragile and talent at all levels is increasingly at risk in a world where
disaster can strike unexpectedly. In a move that would have been unthinkable
ten years ago, some organizations are examining their bench strength in locations
other than their headquarters in New York City, Washington, or other
cities that might be prone to attack if terrorists should wipe out a whole city
through use of a dirty nuclear weapon or other chemical or biological agent.
Could the organization pick up the pieces and continue functioning without
headquarters? That awful, but necessary, question is on the minds of some
corporate and government leaders today. (In fact, one client of mine has set a
goal of making a European capital the alternative corporate headquarters, with
a view toward having headquarters completely re-established in Europe within
24 hours of the total loss of the New York City headquarters, if disaster should
strike.)
▲ The Aftereffects of Many Corporate Scandals. Ethics, morality, and values
have never been more prominent than they are today. In the wake of
the scandals affecting Enron, Global Crossing, WorldCom, and many other
corporations—and the incredible departure of Arthur Andersen from the corporate
world—many leaders have recognized that ethics, morality, and values
do matter. Corporate boards have gotten more involved in succession planxvii