Success Planning for a Ceo

Published: 2021-06-29 06:56:13
essay essay

Category: Business

Type of paper: Essay

This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Hey! We can write a custom essay for you.

All possible types of assignments. Written by academics

GET MY ESSAY
Succession Planning for a CEO

Lone Star Bank, based in Amarillo, is the fourth largest bank in Texas. The president and CEO, Harry " Tex" Ritter, has been with the company for 30 years, the last 12 in his current position as president and CEO. The last three years have been difficult for Lone Star, as earnings have been below average for the industry, and shareholders have grown increasingly impatient. Last month's quarterly earnings report was the proverbial last straw for the board. Particularly troublesome was Ritter's failure to invest enough of Lone Star's assets in higher- yielding investments. Though banks are carefully regulated in terms of their investment strategies, Ritter's investment strategy was conservative even for a bank.
In a meeting last week, the board decided to allow Ritter to serve out the last year of his contract and then replace him. An attractive severance package was hastily put together; when it was presented to Ritter, he agreed to its terms and conditions. Although the board feels it has made a positive step, it is unsure how to identify a successor. When they met with Ritter, he indicated that he thought the bank's senior vice president of operations, Bob Bowers, would be an able successor. Some members of the board think they should follow Ritter's suggestion because he knows the inner workings of the bank better than anyone on the board. Others are not sure what to do.

Warning! This essay is not original. Get 100% unique essay within 45 seconds!

GET UNIQUE ESSAY

We can write your paper just for 11.99$

i want to copy...

This essay has been submitted by a student and contain not unique content

People also read