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Dear BNET Reader,
Handing over power is never an easy task. But recent examples highlight just how difficult CEO succession is for some companies. Take Starbucks, for instance. Founder and CEO Howard Schultz gave his job over to what seemed to be a worthy candidate. But three years later he finds himself back in the saddle to fix his company's slowing sales. Here's a look at how three major companies handled CEO succession and resources to help you identify valuable leaders in your organization. Case Studies in CEO SuccessioneBay: Did Meg Whitman Fail? Her departure at age 51 certainly suggests she knows that something went wrong on her watch. Corner Office blogger William Holstein examines where Whitman's management fell short and what that means for successor John Donahoe.
Starbucks: What Went Wrong at the Top? It wasn't supposed to work this way. Howard Schultz launched Starbucks Coffee and eventually brought in Jim Donald to take over so that Shultz could retreat to the chairman of the board position. Now Schultz finds himself succeeding his successor. Coke: A Lesson in CEO Succession After a series of botched efforts to fill the chief exec's seat following the death of its CEO, it looks like Coke finally figured out how succession is supposed to work. Recently departed Neville Isdell handed the reins over to president Muhtar Kent in a transition so smooth that no one will feel it. Help WantedSan Francisco Bay Area BNET Users Needed Come share your thoughts about BNET! If you live in or near San Francisco and are interested in telling us about your experiences with BNET, please take a moment to fill out this short survey. Lessons in LeadershipEnding CEO Succession Crises In CEO succession, it takes a ton of ore to produce an ounce of gold. Very few of your company's leaders will ever be qualified to run the firm. Here's how to spot promising candidates early and nurture them with the right on-the-job experiences. Leadership Run Amok A leader's hunger to achieve - to continually be the best - is a major source of strength for any organization. It fuels innovation, productivity, and growth. But too much emphasis on personal heroics can damage an otherwise strong enterprise. Watch for these signs of achievement overdrive. The Wisdom of Deliberate Mistakes If you're like most managers, you frown on mistakes. Your organization demands optimum performance, right? And it rewards you based on the height of your successes, not the depth of your failures. Yet mistakes - done right - could give your company strategic advantage. Practical Advice for Small Company CEOs Going Global In view of what's happening to the domestic U.S. economy, now would be a great time to start figuring out how to export or possibly even invest abroad. Here are five tips for how to take your small business global. BNET Business DictionaryWord of the day: dead cat bounce
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