Chief human resource officers (CHROs) play a crucial role in CEO succession planning by defining processes, shaping criteria, and evaluating candidates.
Boards with strong succession practices report higher CHRO engagement and better outcomes, as per a report by the HR Policy Association and University of South Carolina’s Center for Executive Succession.
For successful succession planning, CHROs need trust from the board, CEO, and executive team, along with key characteristics like business fluency, objectivity, and discretion.
CHROs are increasingly seen as essential advisors to corporate boards and are integrating succession planning into talent reviews for long-term value creation, according to a report from The Conference Board.