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Succession for Sustainability

By James D. Cotterman

The 2012 Summer Olympic Games have come to a close. In four years the summer games will be hosted by Brazil. The International Olympic Committee website states that the process to select a host city begins with the bidding process nine years prior to the event. Operational planning begins five years out. Brazil's planning for the next summer games is clearly well underway. An Olympiad requires extensive lead times and long-term planning.

U.S. company General Electric has had 12 leaders over the last 120 years, and has a history of great leadership. Probably its most well-known leader is Jack Welch, who said in 1991, a decade prior to his retirement, “From now on [choosing my successor] is the most important decision I'll make. It occupies a considerable amount of thought almost every day.” [See, "Built to Last: Successful Habits of Visionary Companies," Collins and Porras, 1994 hardback and 1997 paperback, page 169 paperback.]

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