During ABA’s 2009 National Conference for Community Bankers, Susan O’Donnell, managing director at search firm Pearl Meyers & Partners, Boston, presented “Succession Planning: Top 10 Check Points to Protect Your Bank’s Future.” She urged listeners to ask themselves the following 12 questions.

1. Does your bank have a succession plan?
2. Who is responsible for CEO succession at your bank?
3. Who is responsible for board succession at your bank?
4. What is your board succession process?
5. Do you monitor your bank’s talent base?
6. Do you have strong leadership “bench strength”?
7. What are your “gaps” on the team?
8. How do you make succession decisions?
9. How do you ensure proper transition during change?
10. What would you do if your CEO did not return to work tomorrow (death, illness, winning the lottery)?
11. Does your board know the CEO’s plan for retirement?
12. Does the board know who the CEO considers to be the successor?

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