Reference no: EM132398708

You are the CIO of a large financial services company. At age 53, you have been in the CIO position for more than eight years. As a part of the annual planning exercise, for the first time your HR department has required you to do succession planning wherein you must identify two or more people on your current staff as being a potential replacement for yourself within a two-year period of time. While you have been recognized as both effective and innovative during your tenure, would you be concerned about complying with this directive? Is there anything about the stereotypical culture of financial service firms that would influence these concerns? Would these concerns, if any, be different if your boss (rather than the HR department) had asked you to prepare the succession plan?