In 2006, Hay Group surveyed executives at more than 150 companies around the world about CEO succession. To avoid a succession crisis in case of an unplanned CEO or other top executive situation, boards of companies in the most admired group:
- Are more likely than their peers to plan long term for CEO succession.
- Have a stronger preference for internal candidates.
- Are more likely to receive regular updates on potential candidates for potential top leadership positions.
- Are more frequently given information and metrics related to human capital management.
(Source: Business Week, Eur ed., March 26, 2007, no. 5)