To respond to a crisis the company might face (conflict of interest between shareholders, illness or death of the leader, inheritance issues) or a desire from the founding leader to transfer their business, a succession plan is necessary. It may or may not be accompanied by interim management (or an interim board secretary or lead director). Leaders tend to delay decision-making regarding their own succession plan at the head of the company (legitimate fear of tensions among contenders for leadership positions, inability to imagine their company without them, etc.). However, only a formal and accepted succession plan by all stakeholders can ensure a smooth transition.

It is therefore essential to start early enough to allow successors to have the necessary training and preparation for the role. The preparation time is even more crucial when the successor is from the younger generation or is new to the company. Depending on the size of the company, the succession plan may concern only the general manager or the entire top management, with the aim of ensuring continuity of critical skills for the company.

A sine qua non condition for a successful succession plan is its formal acceptance by the directors and leaders of the company. When all stakeholders know when the current director will relinquish their powers and who will replace them, the transition process is much more likely to be smooth, and succession conflicts can be avoided. TIDO's expertise in this area can facilitate the transfer of responsibilities by anticipating events and risk factors and creating a favorable departure context carried out in several stages.