Article
15 min read
6 Succession Planning Examples: Draw Inspiration and Prepare Your Business
Global HR

Author
Lorelei Trisca
Last Update
June 18, 2025

Table of Contents
Example 1: National Grid’s external CEO succession follows a structured handover
Example 2: Nike redefines leadership through internal mobility and distributed responsibilities
Example 3: Wallenberg Investments takes a generational approach to family succession planning
Example 4: McDonald's navigated back-to-back departures with a deep bench
Example 5: Apple’s seamless CFO integration highlights internal pipeline strength
Example 6: Tesla manages a specialist-to-specialist transition in robotics
Key learnings and mistakes to take from these examples
Manage succession planning with Deel
Key takeaways
- Poorly managed leadership transitions cost S&P 1500 companies nearly $1 trillion in lost market value annually. Without a succession plan, companies risk instability and can shake investor confidence. Additionally, they may be forced to fill key positions with external hires, which could be 16% more expensive than promoting from within.
- There’s no one-size-fits-all approach to succession planning. From McDonald’s emergency CEO handover to Nike’s strategic split of leadership responsibilities, the real-world succession examples we’ve selected demonstrate how different teams each model their approach according to available resources and the nature of the vacancy to fill.
- Platforms like Deel support a proactive succession planning process. Using live headcount and performance data, companies can identify high-potential talent, track readiness, and scenario-plan leadership transitions.
Few roles have a more iconic succession process than the Pope. Since the death of Saint Peter in 64 AD, there have been 266 papal transitions, each chosen by a select group of cardinals who lock themselves in the Sistine Chapel to vote in secrecy. Once they decide, they use white smoke to signal the succession.
While succession planning in the corporate world doesn’t involve as much ceremony, it still centers on readiness and a shared understanding of what’s at stake. When someone in a key position vacates their seat, companies need a clear plan to drive the business forward without suffering instability.
This guide presents six real-world examples of succession plans from companies across various industries, illustrating how they address this specific challenge.
Example 1: National Grid’s external CEO succession follows a structured handover
In May 2025, National Grid announced that CEO John Pettigrew would retire after nearly a decade at the helm and a 34-year career with the company, beginning as a graduate. To step into his shoes, the board named Zoë Yujnovich, a seasoned executive with deep experience in the global energy sector.
Yujnovich will assume the role of CEO-designate starting September 1, 2025, and will take on full responsibilities on November 16.
Zoë’s background makes her a strategic fit for National Grid’s next chapter. At Shell, she oversaw the company’s integrated gas and upstream operations, managing large, complex projects across multiple continents. Her earlier leadership roles at Rio Tinto also add to her track record of navigating heavily regulated environments and capital-intensive businesses.
The timing of the succession is also significant, with National Grid in the middle of delivering over £45 billion in infrastructure investment as it works to modernize UK and US energy systems. In that context, appointing a leader with operational scale, global perspective, and experience in transformation is the next logical step.
As Pettigrew noted in the official announcement:
“I am delighted to hand over to Zoë Yujnovich, who has all the attributes required to deliver on the significant growth opportunity ahead and to guide National Grid on the next stage of its journey. There is still much to deliver before I retire from my role in November. Until then, I remain fully focused on ensuring we don’t miss a beat and that I leave National Grid in the strongest possible position.”
Succession planning takeaways
Structured handover sets the company and the new CEO up for success
The two-and-a-half-month overlap between John Pettigrew and Zoë Yujnovich gives both leaders time to work side by side and transfer institutional knowledge from the outgoing to the incoming CEO, which is all the more important given Pettigrew’s tenure since 1991.
External hiring reflects where the business is headed
Far from rejecting National Grid’s legacy, bringing in Yujnovich from outside the organization strengthens the business for the future. Her background fits perfectly with the company’s shift toward large-scale grid modernization and clean energy infrastructure.
Evidence that the board takes succession planning seriously
From the choice of a new CEO to the level of transparency provided to the public, it’s clear that this wasn’t a reactive appointment. The board framed the transition as the result of a comprehensive, long-term process, which is exactly what investors, customers, and employees want to see when a key leader steps down.
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Example 2: Nike redefines leadership through internal mobility and distributed responsibilities
Nike took a different approach when Heidi O’Neill, President of Consumer, Product, and Brand, announced she would step down after a remarkable 26-year tenure.
Rather than naming a single replacement, the company used her departure as an opportunity to rethink how leadership should be structured going forward. Nike divided her responsibilities across multiple internal leaders, a deliberate move designed to reduce risk for the business and reflect the scale and importance of each function O’Neill had been involved in.
The new structure sees Amy Montagne taking over as President of Nike, leading Consumer and Sport, while Phil McCartney, who previously led Footwear, has been promoted to oversee Innovation, Design & Product Creation across Nike, Jordan, and Converse. In Marketing, Nicole Graham, who rejoined Nike in 2023 after building a career in top creative agencies, steps into the Chief Marketing Officer role. Each of the new leaders will report directly to Nike’s CEO Elliott Hill.
Heidi O’Neill reflects:
“After an incredible 26 years at Nike, today, I’m announcing a transition as I move on from this storied company. This moment marks a significant milestone, and I’m filled with immense pride, deep gratitude, and excitement for what the future holds.
Year after year, we’ve focused on the long-term with an unwavering commitment to the company’s mission. I could not be prouder of the way we’ve impacted the world of sport and the groundbreaking innovations we’ve created and delivered to athletes.”
Succession planning takeaways
Breaking down a mega-role reduces single-point dependency
O’Neill’s responsibilities were vast. Rather than appointing one individual to this multi-dimensional role, distributing its scope across a range of leaders limits the company’s dependency on a single person. It also allows each person to take ownership of different functions.
Internal promotions ensure institutional knowledge and rapid execution
All successors come from within the company and already have deep Nike domain expertise, enabling them to hit the ground running. Overall, this approach makes it far easier to maintain momentum while developing the leadership team.
Strategic restructuring reflects future-focused intent
The timing of these promotions, in line with Nike’s “Win Now” playbook, signals to stakeholders and the broader organization that strategic workforce planning is part of the company’s commitment to its future.
Example 3: Wallenberg Investments takes a generational approach to family succession planning
The Wallenberg family has long been one of Europe’s most influential industrial dynasties, quietly shaping the fortunes of global companies like Ericsson, Saab, and AstraZeneca. But in March 2025, the family announced that six members of the sixth generation would begin stepping into board roles across its business empire.
Among them are Jacob Wallenberg Jr., now on the board of private equity firm EQT, and Fred Wallenberg, who joins the board of Investor AB, which is the family’s main investment vehicle. Other appointees are taking up positions across the family’s foundations and newer investment arms, including the Knut and Alice Wallenberg Foundation and Wallenberg Investments.
But here’s what’s striking: no one is crowned a sole successor.
“We are trying to set a platform for the next generation,” said Jacob Wallenberg (senior), a fifth-generation leader. “Exactly how this jigsaw puzzle will play out, nobody knows. The important thing is we have jigsaw puzzle pieces to play with.”
Succession planning takeaways
Succession is gradual and proactive
The Wallenbergs are executing a slow, deliberate handover by introducing several younger family members to governance through board roles and foundation appointments. This long-term strategy focused on exposure allows them to grow into whatever version of leadership the family business needs next.
The approach updates tradition for the 21st century
While the family legacy remains central, this round of succession marks a noticeable evolution: the lineup of successors includes women for the first time and also opens the door to a broader group of family members.
External expertise is included in the plan
Rather than relying solely on family talent, the Wallenbergs are incorporating experienced non-family executives into leadership and advisory roles to work alongside the younger Wallenbergs as they find their footing.
Tip: Tracking succession health across a company is difficult without data. Check out our guide to workforce planning metrics to quantify risk and readiness.
Example 4: McDonald's navigated back-to-back departures with a deep bench
In 2004, McDonald’s faced a challenging succession scenario with the sudden loss of two CEOs in under a year. First, James R. Cantalupo, who had returned from retirement to steer the company through a period of stagnation, died unexpectedly of a heart attack while attending a conference. Just six months later, his successor, Charlie Bell, stepped down after being diagnosed with terminal cancer.
For most companies, even a single unexpected leadership loss can throw operations into disarray. But McDonald’s didn’t falter. The company transitioned smoothly by turning to James Skinner, then Vice Chairman and a 33-year McDonald’s veteran, who stepped into the CEO role without disruption.
Skinner brought deep operational knowledge and a calm, strategic presence that restabilized the business. His appointment also reflected that McDonald’s had quietly been building a bench of future leaders based on employees with high potential.
Skinner went on to lead one of the most successful periods in the company’s modern history, which resulted in a tripling of McDonald’s stock price. He also used his tenure to reinforce and formalize the company’s succession planning strategy, a move directly shaped by the instability the business had just endured.
Succession planning takeaways
A strong internal bench is essential in a crisis
McDonald’s didn’t have time to run a global CEO search. However, because Skinner was already seen as a viable successor, the company could move quickly and confidently, minimizing disruption. His promotion also reassured investors, franchisees, and employees during an otherwise turbulent time.
Shock succession doesn’t have to lead to strategic drift
Rather than just keeping the ship afloat, Skinner’s leadership drove real transformation, showing that even emergency successions can become inflection points for long-term growth when handled well.
A crisis led to a more resilient system
Having lived through two back-to-back leadership departures, Skinner made succession planning a priority from day one. His tenure saw McDonald’s embed succession more formally into its leadership development and talent strategy, helping to future-proof the organization.
Example 5: Apple’s seamless CFO integration highlights internal pipeline strength
In August 2024, Apple announced that Luca Maestri, its long-standing chief financial officer since 2014, would transition to a new senior finance role on January 1, 2025. Kevan Parekh has taken over from him as an 11-year Apple veteran who most recently served as VP of Financial Planning & Analysis.
Maestri’s era was marked by remarkable growth as revenues doubled and Apple’s market value nearly tripled. During his time, the company also increased financial transparency with new reporting frameworks for device and service numbers.
While these are big shoes to fill, Parekh is a fantastic successor, having overseen planning, investor relations, benefits, and global sales finance. Before Apple, he also held senior roles at Thomson Reuters and General Motors. He has an electrical engineering degree and an MBA, showcasing both technical and strategic breadth.
In a statement, CEO Tim Cook praised Parekh:
“For more than a decade, Kevan has been an indispensable member of Apple’s finance team… His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple’s next CFO.”
Succession planning takeaways
Succession planning isn’t just for CEOs
While CEO transitions tend to grab the headlines, roles like CFO carry enormous strategic weight, especially in public companies like Apple. This example shows how vital it is to have a plan in place for key functional leaders who play a central role in financial stability and investor relations.
A well-prepared internal successor reassures markets
Kevan Parekh wasn’t a public-facing executive before this promotion. Still, internally, he had a long track record of leading finance functions across the business. Promoting from within signaled to investors that Apple’s bench strength runs deep.
Transparent communication builds trust
CEO Tim Cook’s strong endorsement of Parekh and clear messaging around the transition framed this as a planned evolution rather than a reactive change. The clarity of the communication reinforced confidence across stakeholders.
Example 6: Tesla manages a specialist-to-specialist transition in robotics
In early June 2025, Milan Kovac, Tesla’s Vice President of Engineering, who oversaw the Optimus humanoid robot program, announced he was stepping down to “spend more time with family.”
Within days, Tesla confirmed that Ashok Elluswamy, head of Tesla’s Autopilot/AI software team, would succeed Kovac. The speed of this transition is vital as Tesla aims to deliver 5,000 Optimus units in 2025 and scale to 50,000 in 2026, despite supply challenges such as China’s rare-earth export restrictions.
Although this isn’t a CEO-level handover, it’s a perfect example of how deeply specialized roles with technical complexity still require succession planning. Kovac’s departure could have caused internal panic. However, by having Elluswamy ready to point, the company has a roadmap to drive forward with a deeply experienced engineer already embedded in Tesla’s AI and autonomy efforts.
Succession planning takeaways
Cross-functional experience pays off
Elluswamy didn’t come from the Optimus team, but his deep background in Autopilot and AI made him a natural fit. This is where internal mobility is key — in this case, moving technical leaders across adjacent domains to build a more flexible and future-ready leadership bench.
A clear message can steady the narrative
Both Tesla and Kovac framed the departure as a personal decision, and the messaging was consistent and calm. Their communication avoided speculation and kept attention on the work instead of the transition.
Continuity keeps the pace in innovation-heavy teams
Optimus is still evolving, with aggressive production goals ahead. A leadership gap could have slowed things down significantly. Having someone ready to step in will keep this large-scale innovation project on track.

Key learnings and mistakes to take from these examples
Along with the companies they represent, each example we’ve explored is unique and puts its own spin on succession planning. Nevertheless, some commonalities exist between them, which you may find useful when designing or executing your own succession strategy. Bear the following in mind:
1. Succession should be baked into any business
Whether it’s a CEO, CFO, or lead engineer, the best transitions don’t happen by accident. Even in sudden exits, companies that have planned ahead manage to sidestep disruption and protect momentum.
2. Internal mobility is a powerful advantage if you invest in it early
Organizations like Apple, Nike, McDonald’s, and Tesla have leaned on internal talent when a key leader left. Instead of stepping into leadership roles cold, these successors had already been exposed to different parts of the business. When internal mobility is intentional like this, it makes headcount planning and leadership transitions far more seamless.
3. Not all succession plans look the same, and that’s a good thing
Nike split one massive role into three. The Wallenbergs have placed multiple family members into smaller roles instead of choosing a single heir. While we can take inspiration from these examples, the takeaway is that your succession strategy should always relate to your business, not anyone else’s.
4. Timing and transparency go hand in hand
Leaders like John Pettigrew and Luca Maestri gave clear notice, allowing time for transitions to unfold without friction. As they were framed as part of a long-term plan and communicated with confidence, this level of transparency reassures investors, employees, and external partners that the business is stable and forward-looking.
5. Specialist roles carry just as much succession risk as executive ones
The Tesla Optimus example proves technical talent isn’t exempt from succession planning. When you lose a deeply embedded specialist, knowledge walks out the door with your product. Protect your business by developing succession plans for all high-impact roles in case of sudden departure.
Manage succession planning with Deel
While none of us know what’s next, a clear, confident succession plan can mean the difference between success and collapse when change occurs.
As these real-world examples show, the companies that get it right don’t wait for a crisis. They build succession into the way they operate, so that when someone key steps aside, the next person is waiting in the wings, ready to perform.
Deel HR is a full-bodied suite of tools ready to support your global succession planning strategy by:
- Gaining a clear view of your current workforce and future gaps with HRIS insights
- Developing and tracking potential successors across multiple geographies with Engage career and learning modules
- Planning future scenarios with Workforce Planning tools that map headcount, skills, and readiness
- Pinpointing high-potential talent using ATS integrations, talent sourcing, and performance management data
Ready to future-proof your business? Start building your succession plan with Deel and book a free demo to see our platform in action.

About the author
Lorelei Trisca is a content marketing manager passionate about everything AI and the future of work. She is always on the hunt for the latest HR trends, fresh statistics, and academic and real-life best practices. She aims to spread the word about creating better employee experiences and helping others grow in their careers.