Fcpa Compliance Report

Another area where compliance can play a key role is in succession planning. A.G. Lafley and Noel M. Tichy, writing in the Harvard Business Review, in an article entitled “The Art and Science of Finding the Right CEO”, discussed the issue of succession planning during his tenure as the Chief Executive Officer of Procter & Gamble (P&G). Many of the concepts and issues that Lafley discusses within the context of succession planning in general are applicable to the concern of compliance within this area. Lafley makes clear that succession planning is just as important as governance, enterprise risk and strategic oversight. In other words, it is just as important. Sadly, many companies fail to give it the attention it requires. Indeed, in a PricewaterhouseCoopers survey, cited in the foreword, nearly one-half of the more than 1,000 directors gauged reported dissatisfaction with their companies’ succession plans. Imagine what that number would be if they took into account the compliance aspect of succession planni