Re: “Sudden death and succession: any company’s worst nightmare”‘ by Andrew Hill on Financial Times blogs.

In this course, we have talked about starting a business and how it maintains profitability through sustainable strategies. However, we haven’t really gone over what happens when a main figure, such as the CEO, is no longer part of the company. This is what Andrew Hill talks about in his blog post, with the issue being a sudden death of the CEO.

This blog caught my eye because it talks about a topic that does not really come up in the daily practices of a business, but is a very real situation that could happen at any time. That being said, succession planning should definitely be important in company discussions. However, Hill mentions that many companies do not have an emergency succession plan in place, or they have a hard time implementing it when the situation arises.

Tragedies like the death of the CEO would definitely take a toll on the company’s performance. Unfortunately, the rest of the market does not stop for one loss. Like it says in this article, losing a figure, such as the CEO, can have consequences on the company’s stocks, internal operations, and/or relations with other businesses if there isn’t enough communication about their next steps. I think that while events, which will make it hard for a company to stay competitive, will inevitably arise, good decisions can allow the business to recover and become stronger.

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