No CEO succession plans at most of Indian groups

No CEO succession plans at most of Indian groups
London: At a time when India's top business house Tatas has begun the search for successor to its chief Ratan Tata, a new survey has found that over 75 percent of the company boards in India do not even discuss the issue of CEO succession planning. In comparison, the boards of more than 60 percent top- ranked companies in the US discuss their CEO succession at least one in a year, while 80 per cent of those companies have already in place an emergency succession plan, a report said. Quoting a research published by US-based management consultancy Bain & Company, British daily 'Financial Times' reported that "more than 75 percent of company boards in India do not discuss chief executive succession planning at all.
Source: PTI