CEO turnover has been down at some companies during the coronavirus crisis. Here’s why.

December 21, 2020

In view of executive turnover during the pandemic, Jamie Diaferia provided commentary to Forbes on how a thoughtful succession plan can help an organization sidestep a crisis caused by the departure of its CEO.

According to a new study by The Conference Board, the number of announced CEO successions during the pandemic has slowed. However, when a succession does take place, without the proper planning it could have the potential to cause major disruptions in a company. Succession plans help organizations avoid or mitigate crises caused by the departure of a CEO.

“All companies perform better when there’s stability, and losing a CEO can create a tremendous amount of instability – particularly when it’s unplanned,” observed Jamie Diaferia, CEO of Infinite Global, an international communications and reputation management firm. “In an ideal scenario, a company will plan well in advance of a transition by having a strong team beneath the CEO that is groomed to step in seamlessly. If a transition isn’t seamless you may see follow-on departures of other employees, a shift in culture, and ultimately a loss of revenue.”

Continue reading on Forbes here.