Dean Stamoulis

Few corporate acts are more momentous than selecting a new CEO.

Yet too often, succession is treated as a last-minute decision rather than a long-term responsibility.

To better understand how boards are organizing themselves for this critical responsibility, we asked more than 1,000 corporate directors to share what really happens in their boardrooms.

Our research found that many boards believe that they're prepared until they're tested.

Only about half say they could confidently name an internal successor if they had to do so tomorrow.

We know that the most effective leadership transitions don't happen by chance.

They start early, with boards taking clear ownership, developing future leaders over time, and creating space to thoughtfully compare internal and external options.

Succession at its core isn't just about choosing the next leader.

It's about stewardship, ensuring continuity, stability, and a values-based handover of power.

To read more about how boards are organizing themselves for this critical responsibility, you can find the full article in our show notes or at russellreynolds.com.

And now back to our conversation with Cardinal Dolan.