When the CEO Wont Let Go
HBR Case: When the CEO Can’t Let Go What are the key issues and concerns involved with this case? The main issue and concern of this case study is how Paul Marsh, the chairman, president, and CEO of Kansas-based Coltrane Farm Equipment & Manufacturing, refuses to deal with the fact that his retirement is just around the corner. ... In the undergraduate level of college, we were taught that succession planning should be initiated at least five years before a current CEO plans to step down. ... One way Marsh can overcome this battle of choosing a replacement is to groom one or two individuals to succeed in stepping up as the new CEO. Since Marsh and the BOD are going head to head on which applicant would make the best CEO, I think he should provide both Hoffman (Marsh’s choice for a replacement) and one of the board members’ chosen candidates with a type of one-on-one training with the current CEO. ... In addition to this, they will have plenty of time remaining for effectively molding the chosen executive into a successful new CEO of Coltrane Farm Equipment & Manufacturing.