Have an emergency succession plan for CEO and CFO—have identified at least one individual the Board is confident can step in and run the company in both a short-term and longer-term emergency.

Have a realistic emergency succession plan identified for ALL executive roles which are pivotal and critical to driving the enterprise internally and/or externally.

EVERY key business and function in the organization has identified their critical roles and people.

For all critical roles and people, leverage insights from ongoing succession planning processes, which define leadership requirements and a bench of potential “understudy” talent.

The above emergency succession assumptions, insights, and plans have been updated in light of the COVID-19 emergency and current state of the business.

Process is in place to test existing emergency plans against leadership requirements as well as business “what if” scenarios and create solutions against highest risks (i.e., what must you do; what you could do).

Emergency Leadership Action Team has been established that can be activated as needed, and Emergency Leadership Transition Policy has been developed to guide future decision-making.

To be implementation-ready, have a defined communication process and set of protocols that provide a step-by-step guide of what company needs to do in event of unexpected transition.