Managing Director Peter Thies was quoted in the Agenda article, “How Boards Are Bringing Succession Planning to the Masses."
In recent years, boards have widened their view of succession planning beyond the top rung of their organization. But that's just the beginning, sources tell Agenda.
Boards, and especially compensation committee members, need to delve deep into their organization when planning for their future workforce. They should think carefully about the skills needed for future leaders and ensure they're receiving proper preparation, said Peter Thies, managing director at advisory firm Pearl Meyer.
"It's a good idea to dip down even further [from top management] and engage more of your leaders, because you never know what's going to happen with succession planning," he said, adding that whenever there's a change at the top, downstream effects will take place too.
The full Agenda article is available to subscribers.