The following is an excerpt from https://www.forbes.com/sites/forbescoachescouncil/2019/04/25/passing-the-torch-your-guide-to-succession-planning-and-development/#6e95227035f5 .
As leaders plan their future, they must also look towards a time when they’ll step away from leading. Succession planning, as many business leaders know, has a long timeline. But to be most effective, the process must start earlier and have a wider scope than you might think. Senior leaders and executives must always think about succession planning, and be actively preparing for their next step.
