Good governance requires that boards of directors have both strategic plans and succession plans, which they review annually. A strategic plan provides a roadmap of the organization’s direction. Whereas, a succession plan maps outs the executive transition process, thus, helping assure a smoother executive transition. Boards of directors may adopt a succession plan for planned departures (new job, retirements) or unplanned (dismissal, illness, disability, death); ideally, it includes a succession policy and plan that addresses both types planned and unplanned departures. It provides training to boards of directors about transitions and executive search. It includes a discussion of organizational transition readiness. It identifies the multitude of decisions that surrounds executive departures. TMC is pleased to offer succession planning services.