We are running the Succession Accountability Chart exercise to prepare for our exit, but we do not have a ready-now internal successor for my Visionary seat. How do we represent a vacant or externally sourced future Visionary on our chart without making our current leadership team feel like their career growth is capped?

Question

Tyler Smith · Accepted Answer

When running the Succession Accountability Chart exercise and finding a gap in your own Visionary seat, honesty is your best policy. Buyers want to see a clear plan for who will lead the big-picture strategy after you exit, and leaving this seat blank or pretending an unqualified internal manager can handle it is a mistake. To represent this gap without damaging team morale, you must separate the structure of the business from the personalities. Show your leadership team the Succession Accountability Chart. Explain that for the business to achieve its ultimate valuation and secure everyone's future, the Visionary seat must eventually be occupied by someone with specific scale experience. Define the exact roles and GWC criteria for this future Visionary. Be clear that while your current team members are outstanding in their seats, the future Visionary seat requires a specific track record that requires an external search. This transparency actually relieves pressure on your team, as they no longer feel forced to stretch into a role they do not want or get. It also shows potential buyers that you are objective about your company's leadership needs and have a clear profile for your successor.