Smart nonprofit chief executives acknowledge that they will leave their organization at some point. Every job and every career ends in a transition — eventually. It’s just a matter of when, how, and how well managed they end.
When chief executives retire — especially if they are founders, long-tenured executives, or transformational leaders — their organizations need to devote appropriate time and resources to managing the transition. The longer a chief executive has been in place, or the more significant his or her impact, the harder he or she is to succeed and the more challenges the successor will likely face. An exit plan can help pave the way for a smoother transition.