The panel discussed the board of directors’ responsibility in preparing and implementing an effective succession plan in the event of the sudden loss of a CEO. A company’s investment of time and money now — including proactively consulting professional advisors such as corporate communications firms and corporate counsel — will facilitate a significantly smoother succession of leadership should a contingency occur in the future.
The panel included Foley Partner Gregory Monday as well as Robert Hallagan of Korn/Ferry International, Philip Huntley of Aon Financial Services Group, Thomas Kirk of Hanger Orthopedic Group, Inc., Betsy Neville of FD/Ashton Partners, Edward Pendergast of Pendergast & Company, Damian Walch of Deloitte & Touche LLP, and Jason Wortendyke of UBS Securities LLC.