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When It’s Time for a Change: Replacing a Director

Note: This is the finale in our three-part series on succession communications.

As you’ve no doubt noticed from our previous posts on communicating CEO and CFO transitions, there’s no such thing as a “standard” executive announcement. And messaging board-level succession carries additional nuances you’ll need to consider as you frame a board change in the best position for long-term success with the investment community.

To assist in that effort, here are five points to guide you in announcing a change on your board.

1. Change is good. Change carries inherent uncertainty, and investors typically frown on that. However, institutional shareholders, and shareholder activists in particular, have emphasized board refreshment in recent years as a means of improving corporategovernance. Proxy advisers Glass Lewis and ISS also view it favorably. The theory here is that more frequent board turnover opens a company to new thinking and the best possible strategic benefits in the long run. Put another way, your board either can be stagnant or growing. Approach your announcement from a confident perspective, because chances are your shareholders will welcome the addition of new viewpoints.

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Investor Relations Blog, Succession Planning, Corporate Governance, Crisis Communications, Investor Relations, Corporate Communications, Succession Communication

When It’s Time for a Change: CFO Succession

Note: This is the second in our three-part series on succession communications.

A new CEO is the highest-profile personnel announcement a company can make, but a new CFO isn’t far behind. As with any executive transition, the reasons can vary widely – from termination to mutual separation to a legitimate retirement. Regardless of the rationale, however, you’ll need to negotiate a different set of questions when communicating a CFO transition.

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Succession Planning, Crisis Communications, CFO, Corporate Communications, Executive Transition, CFO Transition, Succession Communication, Transition Communication

When It’s Time for a Change: CEO Succession

Whether it’s the longtime CEO’s retirement or the recent hire’s sudden exit, communicating the transition of the top executive is one of the most critical messaging tasks a company can undertake. So let’s discuss them both: the transitions that are well-planned, thoughtful and strategic, and those that are likely to catch investors by surprise. Here are three things to remember before your company changes CEOs.

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Strategic Messaging, Succession Planning, Investor Relations, Corporate Communications

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