Russia's Succession Paradox

Succession planning has always been a sensitive topic, and managing the process is at best an inexact science. The way founder entrepreneurs handle succession has a great influence on the future viability of their enterprises. Inevitably, succession always introduces a period of change. For any founder-CEO, dealing with succession is not necessarily a conscious process. A number of subtle psychological factors may play an important part in the succession drama. These include the denial of death, the hope of a legacy, the illusion of equality, and the unwillingness to hand over the reins. This study discovered that in Western companies that have handled succession well, top executives had conducted a comprehensive succession planning process.