The powerful Bennett
Posted by NovaAngel at March 6th, 2008
If Bennett still drags his feet, I’d ask him the beer truck question: “What happens to this company if you get hit by a beer truck?” If he says his number two can step in–which is exactly what Bennett will say – I’d reply,“No, he can’t. Under no circumstances are we putting your buddy in the job. And if we have to go through an unplanned transition, all the hard work you’ve done could go out the window.
The stock could crash. Terrell isn’t the guy – if we had to put him in, he wouldn’t last nine months–and we don’t want to make two transitions in a year.”I’d paint a pretty bad picture. Bennett’s sort of a one-man band, a dominant leader who enjoys being in control. So even after Calloway deals with the CEO’s personal anxieties about how long he can stay and emphasizes the consequences of an unplanned transition, Bennett may continue to resist. Then I’d get tough and say,“I, as chairman, am going to meet and spend time with the company’s top 20 people – not just to inform the succession management process but also because the chairman should understand the talent. I want to get to know them because that’s my job.”
You would be surprised by what you learn. For instance, you may have some idea of who the candidates are, and one may seem like the obvious front-runner, but over time as you get to know them all, others may emerge who have better strategic skills or better insights. Bennett may dismiss Calloway’s wish to spend time with the potential successors, but every board should at the very least become familiar with the CEO’s direct reports. I’d look at the very high-potential people at the next level, too. After all,Reginald Jones selected Jack Welch from the second level of General Electric’s executive ranks.

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