Gaps in succession planning at firms, says study
While less than 43% of boards have identified successors for top roles, just 53% have adopted metrics to assess board performance, says Korn Ferry-NSE study
Mumbai: Even as India Inc. continues to put more controls and processes in place to ensure better corporate governance, a large number of domestic firms are still wanting in succession planning, potentially throwing up serious leadership challenges for the future, says a study by global consulting firm Korn Ferry and the National Stock Exchange (NSE) titled, Boards That Lead, released on Monday. The report, based on a survey of NSE-listed companies, assessed respondents on key areas such as succession planning and process for induction, and evaluation of board members.
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