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Once the CEO died or retired, boards typically followed go well with and elected the former CEO's choice. This battle of curiosity would make it tough for the brand new CEO to institute any changes, as the facility and influence nonetheless stays with the former CEO. Ensure you perceive all of their insurance policies and have a great really feel for the level of satisfaction their current franchisees have. The truth is, it's not uncommon for the board to make an unbiased selection, perhaps deciding on a candidate from outdoors the corporate. In fact, within the 2000 movement picture launch of Shakespeare's "Hamlet," which deals with problems of royal succession, filmmaker Michael Almereyda modernized the plot to revolve around the dying of a CEO instead of a king. Just as monarchies have struggled historically with the demise of a king who has no robust or apparent successor, so must firms struggle with the departure of a CEO. Because of the problems than can ensue from the sudden demise or departure of a CEO, consultants suggest that boards all the time have a plan ready for a stable transition. In some cases, a CEO/chairman could select to retire as CEO, however keep his or her function as the chairman

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