Leading at Leadership Succession
Succession dominates the current news feeds. The news currently focuses on political succession, but many of the issues exist in senior-level leadership succession generally. I have played a major role in more than half-a-dozen CEO transition processes and had a ringside seat for half-a-dozen more. In the spirit of the times, I offer these thoughts in this just dropped article.
But first, an unusual point of reference…Two Joe's: Joltin' & Scranton
Without equating the two, Scranton Joe Biden's announcement to not pursue a second term put me in mind of Joltin' Joe's announcement to not accept the offer to play another year. So, as long as we're focusing on the topic, Joe D may have set the standard for when and how to leave center stage.
At 36, the legendary Joe DiMaggio had a respectable year playing centerfield for the World Champion New York Yankees. It was, however, by far his worst year ever. The Yankees offered to renew DiMaggio’s high priced contract. The option to continue to play lay on the table before him. Yet, DiMaggio bluntly assessed his abilities, "I just don’t have it anymore." Announcing his retirement, “I feel that I have reached the stage where I can no longer produce for my ball club, my manager, my teammates and my fans the sort of baseball their loyalty to me deserves.” DiMaggio said, “If I can’t give out what I want to give out, I don’t want to play.” The decision was professional, relational, and, above all, personal. His brother Tom offered this summary, "He quit because he wasn’t Joe DiMaggio anymore."
The fact that a career ends doesn’t change its nature or, as in DiMaggio’s case, its greatness.
By the way, DiMaggio's decision cleared the way for another talent of legendary proportion to take up the position that DiMaggio had played so well for so long...that talent was, of course, future Hall of Famer, one Mickey Mantle.
Now the link to my aforementioned and recently dropped article of mine about succession: