Survey Analysis: CEO Succession Planning

Explore findings from NACD’s 2024 Private Company Board Practices and Oversight Survey related to CEO succession planning. The data was gathered from directors who serve on the boards of privately held companies. Access the full 2024 survey here.

Key Insights

Planning for the next leader is considered a primary board responsibility; however, survey data suggest that many private company boards have yet to establish structured processes. While a majority of respondents (69%) have discussed long-term succession planning for the CEO in the past year, more than a third (36%) report that if the CEO leaves tomorrow, their board will be unprepared to effectively identify the CEO’s successor. Another 10 percent responded they were “unsure” if their board had a CEO successor identified, an equally disquieting state.