Monday, October 6, 2008

CEO Succession

As I watched the news everyday it discusses about the status of big banks and corporate companies on the brink of collapse. There were the Freddie Mac and Fannie Mae, Lehman Brothers, the Washington Mutual, AIG, and the Wachovia that declares bankruptcy, on sale and being brought by other big companies. The government has this biggest bail out in the history to save the economy from what is called the recession. But there are still other companies that are now struggling to keep its operation running.

I am very curious how these companies who were bankrupt and bought by other companies operates. How the business succession is being carried over by the new investor. I have read an illustration of CEO Succession overview by Dennis C Carey on you tube and I learned how this succession works. He is an executive recruiter that has expertise in choosing good leaders for big companies and corporations. Selection of people to handle such very big companies is not an easy task. A recruiter must know what he is looking for to become an executive officer because the success of the company lies in them. If you are interested you can check out the video too; just click on the name above.

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