CEO transitions are becoming increasingly common, and communications planning is more crucial than ever. A well-managed leadership transition builds trust and confidence among key stakeholders and minimizes risk, whereas a mishandled process can result in value destruction, reputation issues and loss of stakeholder confidence.
According to the Harvard Business Review, poorly managed CEO and C-suite transitions in the S&P 1500 wipe out close to $1 trillion in market value annually. As such, effectively communicating the transition to key stakeholders is often as important as choosing the right candidate.