Anne Mulcahy is a person whom I had never heard of before until earlier this year. Since then I have been excited, encouraged and enthused by her and what she has achieved in the world of business. Being the CEO of Xerox is no easy task and one that has plenty of opportunities as well as pitfalls.
In the October 2010 edition of the Harvard Business Review Anne outlines in an article the whys and how’s of both succession planning and handover. The story and the article are very honest and very little is hidden. There are quite a few lessons and stories shared that have a lot of wisdom about them.
I enjoyed the honesty of the situation and the way the entire process was handled. Another interesting part to this story is the fact that not only was one woman in charge of Xerox but she handed over the controls to another woman. The fact that both Anne and her successor were able to garner the confidence and support of the board and directors is phenomenal.
If you were to only read one article or story about business this year - this would be the one that I recommend.