What Top Executives Wish Their CEOs Knew About Succession Planning

Envision this scenario. A seasoned executive, recognized as one of   the organization’s strongest talents and widely seen as a future CEO, is consistently operating at their highest level. The current chief executive has been in the role for more than six years, and the board has discussed succession in broad terms, yet no formal conversations have taken place with any internal contender. The lack of any signal from the board can let the mind of the contender go wild: “Are they looking at external candidates? Why do they think I am not good enough? It is time to leave?” The ambiguity is starting to drain the energy of the entire leadership team. Their engagement is slipping. And no one is addressing the issue.

Now imagine scenario two: A thriving C-Suite executive, in a routine one-to-one meeting, learns from the CEO that the board views them as the leading candidate in a CEO succession process that is already well underway. The problem? The executive had no idea they were being considered—and they’re not even certain they want the job. They leave the conversation surprised, and feeling disempowered, as nobody seems to care about their hopes and fears. 

Unfortunately, both scenarios are common, and both create unnecessary strain. These examples reveal the same underlying truth: the development of top executives cannot be episodic. It must be continuous, especially as CEO turnover rates continue to rise, reaching 12.5% in 2025, compared to a historic low of 9.8% in 2024 and 12.2% in 2023, according to a new study by the Conference Board, Egon Zehnder, and Semler Brossy.

Succession is among the board’s most critical duties. And while it’s a governance responsibility, the incumbent CEO has an outsize impact on the journey. For an incumbent CEO, it’s deeply personal, and while emotions can make the process complex, their approach sets the tone for how it unfolds. By partnering with the board, modeling intentionality, transparency, and a genuine willingness to develop, a CEO can provide the blueprint for leadership continuity.

From the candidate’s perspective, the CEO succession process is a significant identity moment. It is a period defined by high expectations and limited visibility, where performance is scrutinized but the path forward is often unclear. Candidates frequently describe the process as a “black box.” They can sense that something is happening, but do not know how readiness is judged, what the timeline is, or whether their aspirations align with what the organization needs.

Because of this, two emotional experiences rise to the surface:

• For those who hope to step up, silence feels destabilizing. They question whether to stay patient, stretch further, or look externally. Their energy becomes divided between navigating their current role and trying to interpret signals about tomorrow.
• For those who are unexpectedly thrust into contention, the lack of informed choice creates pressure rather than opportunity. They can feel cornered, misaligned, or prematurely exposed, hardly ideal conditions for assessing true CEO potential.

Neither dynamic is necessary. Both can be alleviated through consistent, transparent conversations between the Chair /Lead Independent Director (or head of Nomco), the sitting CEO, CHRO, and the rising executives. We often hear that a substantial worry of the stakeholders is “creating a horse race” among potential successors. In trying to avoid that risk, organizations frequently over-correct and provide no information or guidance to anyone. The Chair /Lead Independent Director can play a critical role in mitigating these situations by actively engaging not only with potential successors but also with the outgoing CEO. This dual dialogue ensures alignment on timing, expectations, and organizational priorities while alleviating emotional complexities.

During our work with sitting CEOs, when looking back, some note moments in their careers when someone helped them see their potential more clearly, prepared them for what the role requires, or created opportunities to test their judgment under pressure. Sponsorship is invaluable.

Yet aspiring CEOs often describe a very different reality. Feedback may be sporadic, opportunities uneven, and sponsorship inconsistent. Much of this comes down to the incumbent CEO’s posture toward succession. When a Chair /Lead Independent Director or CEO avoids the topic, defers it indefinitely, or holds tight control over exposure, development slows and the pipeline narrows. 

Often it is unintentional—CEOs are under tremendous pressure to perform and to deliver on short-term results and may want to keep strong leaders in their current roles to continue to drive those results and stability. But this can hinder those leaders from being placed in more developmental roles that would better prepare them to be CEO eventually. 

To ensure the sitting CEO plays a productive role in succession, we must acknowledge that succession surfaces deeply human questions for the incumbent:

What is my legacy? 

How do I remain relevant? 

Am I ready for what comes next?

These questions are natural, but they often drive behaviors that unintentionally complicate the process.
Some CEOs avoid succession planning altogether for fear it signals diminished energy. Others over-identify with certain protégés or resist external benchmarking. Some accumulate reasons to delay the transition, setting ever-shifting expectations for readiness.

Boards can create structure—clear criteria, consistent governance, external calibration—but structure cannot replace the incumbent CEO’s openness. Their willingness to engage with both the organizational and emotional dimensions of transition is the single biggest determinant of whether succession becomes stabilizing or destabilizing.

CEOs face competing demands while having limited time to address them all. At the same time, developing their leadership team should be a critical part of their job. Ultimately, they need to prioritize and be creative with how they do it.

By engaging early, offering clarity, creating opportunities for top leaders to rotate to other positions, gaining meaningful exposure to the board, and presenting to shareholders and analysts, an organization can support multiple contenders through clear development opportunities, thereby becoming stronger and more resilient. 

This begins with the daily choices an incumbent CEO makes about transparency, development, and sponsorship. When CEOs normalize succession conversations as part of long-term leadership development they build trust. When they support optionality and encourage exposure for multiple candidates, they widen the pipeline. When they invest in mentorship and envision their own next chapter with clarity, they move through transition with steadiness rather than resistance.

Most importantly, when CEOs anchor succession readiness in organizational continuity rather than personal timing, they strengthen both the company and their legacy.

For executives in the succession pipeline, the process is as much about mindset as it is about performance. Candidates should embrace transparency and actively seek feedback rather than waiting for signals. In addition, executives should make their aspirations and goals clear to the CEO, fostering open dialogue about their career ambitions and readiness. 

Being proactive in communicating their ambition not only demonstrates initiative and self-awareness but also enables the CEO to better support their development and align opportunities with organizational needs. Investing in executive coaching, engaging in leadership development programs, and cultivating sponsorship relationships can help accelerate readiness. 

Above all, candidates should balance ambition with patience: staying focused on delivering impact in their current role while preparing for the next chapter with resilience and openness.

CEO succession is one of the most consequential leadership moments any organization will face, and it often arrives sooner than expected. With CEO turnover rising, boards and leaders must treat succession as a continuous, strategic priority rather than a last-minute event. 

For candidates, it is a period filled with hope, uncertainty, and identity questions. For boards, it is a strategic imperative. But for sitting CEOs, it is an act of stewardship. When approached with transparency, courage, and humanity, succession becomes a catalyst for renewal. And the CEOs who embrace that reality leave not just a successor, but a stronger organization than the one they inherited.