He announced his succession plan months earlier, naming his replacement along with the timeline for his retirement. As a management discipline, succession planning is deemed critical, especially to investors and other stakeholders. It is fine for strategic business unit heads to provide a succession plan, but does the CEO need to worry about that? The matter of strategy and marketing depends on management and its continuing succession line. Warren Buffett, in our example above, gives this warning: “Only when the tide goes out do you discover who’s been swimming naked.” A clear succession plan is sure to provide a good cover after high tide.

Source: Philippine Star January 25, 2026 16:36 UTC