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Related Experiment Videos

Succession and failure.

Frank V Cespedes1, Robert M Galford

  • 1Center for Executive Development, Boston, USA. fcespedes@cedinc.com

Harvard Business Review
|June 19, 2004
PubMed
Summary
This summary is machine-generated.

A failed executive succession plan at Tiverton Media highlights the need for adaptable leadership development strategies. The case study explores challenges in retaining talent when succession planning is rigid and uncertain.

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Area of Science:

  • Business Strategy
  • Organizational Behavior
  • Leadership Development

Background:

  • Tiverton Media's chairman, Norman Windom, implemented an executive development plan to groom COO Sean Kinnane for leadership.
  • Derek Solomon, Aleph Records' CEO, remains a key creative force, creating uncertainty about succession.
  • Kinnane, ambitious and impatient, perceives an uncertain future and resigns, prompting others to leave.

Purpose of the Study:

  • To analyze the failure of a rigid executive succession plan.
  • To examine the impact of leadership uncertainty on talent retention.
  • To propose alternative succession planning strategies for boards.

Main Methods:

  • Case study analysis of Tiverton Media's succession planning.
  • Expert commentary from business and academic leaders.

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  • Discussion of organizational dynamics and talent management.

    • Main Results:

    • The rigid succession plan failed due to leadership uncertainty and market-driven dynamics.
    • Key talent, including Sean Kinnane, departed, destabilizing the organization.
    • The case underscores the need for flexible and adaptive leadership development.

    Conclusions:

    • Boards must adopt adaptable succession plans that account for market shifts and individual ambitions.
    • Effective leadership development requires clear communication and consideration of key stakeholders.
    • Rethinking succession strategies is crucial for long-term organizational health and talent retention.