In the world of business, leadership is often measured by results. But true leadership is about what happens after you step away. Will your company thrive, or will it falter?
Despite its critical importance, only 54% of company boards believe they have a solid succession plan. The consequences of poor planning are stark — unprepared CEOs struggle, company cultures erode and businesses lose momentum. However, when done right, succession planning isn’t just about leadership continuity — it’s a strategy for accelerated growth.
At a recent executive session, Henrik Ekelund, founder and chairman of BTS Group, shared his journey of transitioning out of a role he held for 36 years. His insights reveal how leaders can craft a legacy that endures.
Succession is Not an Event — It’s a Strategy
One of Henrik’s most profound insights is that succession planning should begin years in advance — ideally 5 to 10 years. It’s not about picking a replacement at the last minute but building a strong leadership pipeline.
Five Pillars of an Effective Succession Plan
1. Cultural alignment: A new leader must do more than run the business; they must live and breathe its values.
2. Objective selection criteria: Decisions should be based on capabilities, not gut feelings.
3. Real-world leadership assessments: Potential successors should be tested in high-stakes scenarios before taking the top job.
4. Transparent stakeholder communication: Investors, employees and clients need confidence in the transition process.
5. Ongoing mentorship: The best transitions don’t end when a new leader steps in — they continue with coaching and support.
Companies with structured succession plans grow 2.2 times faster than those without, studies have shown. The message is clear: succession is not about finding the “next big leader”; it’s about securing the company’s future.
How Do You Identify the Right Successor?
A critical mistake many companies make is searching for a “perfect” leader — a mythical figure with all the answers. The reality? The best leaders are not found; they are developed.
Henrik spent years evaluating five to six internal candidates. His criteria were clear:
Client-centric thinking: Can they build and maintain strong partnerships?
Strategic vision: Do they see beyond immediate challenges?
Innovative mindset: Are they willing to challenge the status quo?
People leadership: Can they inspire and elevate teams?
Deep cultural understanding: Do they truly represent the company’s DNA?
By the time Henrik stepped down, the transition was seamless. His successor wasn’t just filling a role — they were prepared to lead.
The Hardest Part: Letting Go
For many long-serving leaders, stepping down can be daunting. Henrik’s personal story reflects this shift:
On his last Friday as CEO, he had 80 emails in his inbox. By Monday, as chairman, he had only four. It was a stark reminder that his role had changed. Many leaders struggle with this transition, often micromanaging their successors out of fear. Henrik’s advice?
1. Trust the process: If succession was done right, the new leader will be ready.
2. Resist micromanagement: Constant interference undermines a CEO’s authority.
3. Remain a mentor, not a boss: Be available, but let them take full ownership.
4. Think beyond personal legacy: The company’s future matters more than individual recognition.
Letting go isn’t about disappearing — it’s about creating space for new leadership to thrive.
Final Thought: Leadership is Not About You — It’s About the Future
The ultimate test of leadership is not what happens while you are in control, but what happens when you leave.
Companies that neglect succession planning risk instability, loss of direction and failed leadership transitions. Those that invest in leadership continuity build lasting competitive advantage.
Are you preparing your organisation for the future — or just hoping it will take care of itself?
Now is the time to act.
Arinya Talerngsri is the Managing Director of BTS Thailand (formerly SEAC), part of the BTS Group, a leading global strategy implementation firm. She is passionate about revolutionising education and creating opportunities for Thais and people worldwide. Executives and organisations looking to collaborate or learn more about leadership development, talent development, succession planning and organisational transformation can contact her directly at arinya_t@seasiacenter.com or visit her LinkedIn profile.
