"Succession planning and leadership transition is critical for the long-term success of every company. Far too often leaders delay transition planning, which can lead to a series of unintended events including not leaving enough time to properly groom a successor. Leaders who make rushed transitions will have lower odds of success and may unintentionally set up the company for failure. From my perspective, it’s never too soon to get started. For private companies leadership transitions may also include the complexity of changing ownership. The first step is to identify a prospective successor and invest in that person’s development. Future leaders ...