In this episode of Build Better Boards, hosts Dr. Keri Jacobs and Richard Fagerlin examine how boards can keep CEO-succession plans alive and relevant. They distinguish emergency “hit-by-the-beer-truck” scenarios from long-term leadership development, and explain why creating a forward-looking CEO “avatar” helps boards hire the right leader when the time comes.

• Differentiate an emergency response plan (short-term stopgaps) from an evolving succession framework focused on strategic needs.

• Review practical steps for keeping successor lists and processes up to date—and why boards should revisit them at least annually.

• Build a CEO “avatar” by gathering input from stakeholders on future skills, behaviors, and experiences rather than copying the outgoing job description.

• Watch for biases that overweight recent performance or single metrics; use a balanced-scorecard mindset when evaluating candidates.

• Develop internal talent broadly while managing expectations, recognizing that high performers may still need outside exposure to become enterprise-level generalists.

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