One reason for a lack of CEO succession planning is that board members are often squeamish about asking the CEO about their intended departure date, worrying that incumbent CEOs might construe this kind of conversation as an indication of a lack of confidence in their leadership.

However, if handled in a direct but professional manner, discussions about when CEOs will leave their posts and what should happen after they are gone demonstrate professionalism and can actually build an executive's confidence in the board by demonstrating long-term thinking and a commitment to sustaining the organization after the CEO's departure.

Learn more in the CEO Search Committee Guide.