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Covid has made succession planning even more critical

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The Indian landscape: It has been observed that Indian companies are more relaxed in comparison with their global counterparts on structured succession planning.

The process is more institutionalized in the West and goes beyond the chief executive officer and other C-suite executives. In contrast, the abundance of family-owned businesses in India, coupled with societal expectations of family members to join the business, leave little room for institutionalizing the process.

However, the domestic regulatory environment is tightening around succession planning, and the broader governance ecosystem of proxy advisors, credit rating agencies, etc, has a keen eye on this matter.

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