MIT Sloan Management Review Article on Don't Set Your Next CEO Up to Fail

At the heart of many botched appointments is the lack of a clear mandate.

CEOs come and go — even seasoned executives with previously unblemished track records. The best-laid plans — especially succession plans — often fall apart when they encounter reality. What is surprising is how shocked and appalled boards are when their CEO choices fail — sometimes repeatedly. The financial costs of these poor choices are enormous.

With so much at stake, what can companies and their boards do to increase the odds of success?