Last week consumer product behemoth P&G announced that the board booted CEO Robert MacDonald, and replaced him with the former chief executive, 66-year-old A.G. Laffley. Under his watch, MacDonald produced poor performance and a string of defections from the company's executive ranks. Laffley was brought back because there were no internal candidates who are ready for the top spot. I find it amazing that large global corporations cannot get their act together and produce an ongoing and effective succession plan that provides internal alternatives to replace a departing chief executive. Alas this is not unique to P&G. All too often, we observe that companies trumpet that they have a succession program only to find that when the need arises, the board goes outside to fill the CEO's shoes. Succession planning is singularly the most important role of the board, but often under the influence of a strong CEO who figures he or she is there for the duration, succession planning is relegated to a lower priority.

Tony LoPinto

ROSS STORES, INC.
VP, Corporate Properties
(PLEASANTON, CA) The VP, corporate properties will support the operational and strategic property activities associated with the North East buying offices. Responsibilities include: internal relationship management, external vendor management, space planning, project management, facility management, budget preparation, cost management, workplace safety and operational efficiencies.