Management Succession. At the Effective Time, Xxxx X. Xxxxxxxxxx shall be Chairman of the Board and Chief Executive Officer of Parent. At the Effective Time, Xxxxxxx X. X. Xxxxx shall be the President and Chief Operating Officer of Parent.
Management Succession. At the Effective Time, Verne G. Istock shall be Chairman of the Board of the Surviving Coxxxxxxxxn and John B. McCoy shall be the President and Chief Executive Officer ox xxx Xxxxxxxng Corporation.
Management Succession. (1) Within ninety (90) days, the Board shall develop and approve a management succession program to promote the retention and continuity of capable management to include, at a minimum:
Management Succession. Finding: A high number of impending retirements presents both a risk and opportunity to the Secretariat. Of the 44 full-time employees as of 2015, 20 have more than 20 years of experience with the Secretariat, and eight have more than 30 years of experience. The Secretariat retains significant value from this team of long-term, highly skilled employees. Low turnover indicates high job satisfaction, which was confirmed through interviews. Another benefit of low turnover is that retaining employees is much more cost-effective than replacing employees, due the costs associated with recruiting, onboarding, training, and ramping up new employees. The existing team also provides invaluable continuity, both internally for coworkers and externally for officials and other stakeholders. However, without procedural documentation, cross-training, or succession plans, the Secretariat is also at risk of losing valuable institutional knowledge due to retirements. A significant number of employees leaving in a short period of time could have significant negative impacts on operations, especially in specialized disciplines. This risk is increased for the Secretariat, because it is a small organization staffed largely by experts in the field. If managed properly, the potential loss of a number of senior staff also presents an opportunity for the IATTC to bring innovative ideas to the Secretariat. Organizations with very low turnover can become stagnant and resistant to change. A well-managed generational change in personnel can lead to increased productivity and renewed energy in the organization. Recommendation: Develop a strategy to address succession planning and document procedures for key positions. The Secretariat should develop a strategy and timeline for developing succession plans for key positions. This is an initiative that is typically led by Human Resources (see Finding 11), which should prepare a template for succession plans, provide guidance and technical support, and review plans to ensure completeness and accountability. An effective succession planning process should contain the following elements: • Active executive involvement • Integration with the organization’s strategic plan • Process to identify essential positions and their critical competencies • Procedures to identify, promote, and select high potential staff, along with plans for individual career development • Procedures to monitor individual development through coaching, mentoring, and perfor...
Management Succession. At the Effective Time, Xxxxx X. Istock shall be Chairman of the Board of the Surviving Corporation and Xxxx X. XxXxx shall be the President and Chief Executive Officer of the Surviving Corporation.
Management Succession. At the Effective Time, E. Gary Cook shall be Chairman of the Board of the Combined Company and Xxxxxxx X. Calarco shall be the President and Chief Executive Officer xx xxx Xxxxxxxx Xompany and otherwise the officers of Newco immediately prior to the Effective Time shall be the initial officers of the Combined Company and shall hold office until their respective successors are duly elected and qualified, or their earlier death, resignation or removal.
Management Succession. Paragraph 2.1 Xxxxxx confirms his consent to the nomination and selection of Xxxxxxx Xxxxx to be his successor as Chief Executive Officer and Chairman of the Board by executing the Special Board Resolution of March 16, 2005 attached hereto as Exhibit "B".
Management Succession. (a) At the Effective Time, Xx. Xxxxxxx X. Thomas shall be Chairman of the Board of the Surviving Corporation, and shall serve in such capacity until the annual meeting of stockholders of the Surviving Corporation (anticipated to be held on May 20, 1996). At the Effective Time, Xx. Xxxxx X. Istock shall be the President and Chief Executive Officer of the Surviving Corporation. Mr. Istock shall immediately and without further action of the Board of Directors become Chairman of the Board of the Surviving Corporation on the date (which in no event shall be later than May 31, 1996) upon which Xx. Xxxxxx ceases to be Chairman of the Board. (b) At the annual meeting of stockholders of the Surviving Corporation (anticipated to be held on May 20, 1996), Xx. Xxxxxx shall retire from all positions he then holds as an officer of the Surviving Corporation or as an officer or employee of any of its Subsidiaries. 1.11
Management Succession. At the Effective Time, E. Xxxx Xxxx shall be Chairman of the Board of the Combined Company and Xxxxxxx X. Xxxxxxx shall be the President and Chief Executive Officer of the Combined Company and otherwise the officers of Newco immediately prior to the Effective Time shall be the initial officers of the Combined Company and shall hold office until their respective successors are duly elected and qualified, or their earlier death, resignation or removal.
Management Succession. The Compensation Committee will, at least annually, review a succession plan for executive officers of the General Partner, which succession plan will include appropriate contingencies in case the Chief Executive Officer retires, resigns or is incapacitated. The Board will evaluate potential successors to the Chief Executive Officer. The Chief Executive Officer should at all times make available his recommendations and evaluations of potential successors, along with a review of any development plans recommended for such individuals.
