A Detailed Plan Can Yield a Seamless Succession

Partner Steven Vazquez discusses some of the elements of an effective board succession plan, including potential age and term limits, methods for identifying desirable director qualities and levels of experience, and the possibility of working with an external recruiting firm to identify appropriate director candidates. He states that a detailed and regularly reviewed board succession plan may provide a guide for continuity that protects a company’s short-term operations and long-term prospects for success.