http://online.wsj.com/article/SB10001424052970204652904577192132163888756.html?mod=rss_Technology&utm_source=twitterfeed&utm_medium=twitter
Are they kidding? Am I hearing this correctly, Cannon does not have a standing plan for line of succession? Holy smokes! Yikes!
If you plan on promoting people within, the process is one that takes time. You don’t just simply and suddenly find a suitable group of executives. Companies are supposed to train the next generations of executives over a period of years.
You know what Cannon ought to be afraid of is picking someone based on age. The biggest mistake to make is to select an executive based on him being the oldest in the bunch. If the Japanese actually selected qualified managers based on age, they would be committing a massive error.
How in the world do you not have a succession plan in place? Even most large American companies have something that approximates a succession plan for management teams. I just realized that Canon is a ripe target for a turnaround expert.
Canon should consider hiring outside consultants to assist them.
It takes time to "groom" the next generation of a company's leaders.
