Succession Planning: Identifying and Developing Your Next Management Team and Board

January 29, 2014 10:45am

Michèle D. McCarthy
Founder
McCarthy Law Professional Corporation

W. John Jussup
Former General Counsel & Corporate Secretary
Bank of Canada

  • Lessons Learned: Obtaining invaluable stop-gap measures to temporarily fill these positions pending government approval
    • Practical solutions for overcoming challenges with recruitment and Ministerial buy-in
  • The impact vacant board positions have on the operation of the Crown corporation – what proactive steps can management take to overcome these challenges
  • Checklist of factor in choosing the most suitable recruiting firm to assist with this task, and ensure you are informed of the benefits of different approaches to board recruitment
  • Develop unique strategies to maintain diversity on boards, in particular, increasing recruitment of women
  • Detailed review of the effect of political interference in selecting board members, how to return the focus of board appointments to a skills matrix and filling competency gaps

Planning in Extreme Circumstances:

  • Important considerations regarding creating a fair and transparent process of evaluating the CEO or Chair
  • What to include when drafting a suitable action plan to replace CEO in the event of extreme circumstances with minimal risk to performance of the Crown corporation
  • Detailed strategies to plan for successive candidates and learn essential considerations when engaging a recruitment firm on retainer for immediate replacement candidates