The most crucial time in an organization’s life is the transition from one CEO to another. But while considerable time and attention are given to the mission and vision of a company, this often isn’t the case with CEO-transition planning. Such planning is particularly needed in healthcare, where hospital CEO turnover hovers been 18 and 20 percent. Additionally, the CEO population is aging: The average age is 62, making transitions all the more imminent for many organizations.
In this Trustee Magazine article, Mark O’Neil, an experienced leader who has held CEO positions in several health systems, covers the reasons why transition occurs, and ideas for effective planning. He reminds us that doing it right is better than doing it over.
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