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If your chief executive officer resigned tonight, would the organisation become stronger tomorrow or confused by Monday morning?
A few years ago, I walked into a board retreat convinced I was about to help directors refine a brilliant strategy. Ten minutes later the room proved me wrong. The board had spent two hours debating office parking spaces, a new branch opening, and the colour of the company website. Succession planning had never appeared on the agenda. I quietly laughed at myself for expecting strategic conversation from a board that had mastered the art of discussing everything except the future.
This moment reminds many boards of the three-stone fireplace village children are often told. Cooking only works when all three stones hold the pot steady. Remove one stone and the pot collapses. In most organisations those three stones are strategy, leadership continuity, and governance discipline. Boards often guard the first stone, occasionally inspect the second, and almost forget the third. READ MORE |