September 2024: Succession Planning

Helping Companies Prepare for Executive Transitions

In today’s fast-paced business environment, where leadership changes can happen unexpectedly, succession planning has become a critical component of long-term organizational success. Proactive succession planning ensures that companies are prepared for executive transitions without disruption, enabling them to maintain stability, drive growth, and safeguard their competitive edge.

The Importance of Proactive Succession Planning

Many organizations, particularly smaller and mid-sized businesses, often overlook succession planning until a key leader announces their departure. Unfortunately, this reactive approach can lead to hasty decisions, a lack of continuity, and even potential revenue loss. A proactive succession plan, on the other hand, ensures that companies can seamlessly fill leadership roles with qualified candidates who are ready to step in.

A well-executed succession plan goes beyond merely identifying potential successors; it’s about developing future leaders who align with the company’s vision, culture, and strategic goals. This process requires foresight, thoughtful planning, and a commitment to investing in leadership development over time.

Benefits of Proactive Succession Planning

Business Continuity: With a clear succession plan in place, businesses can maintain momentum even when an executive unexpectedly exits. This ensures minimal disruption to operations and preserves stakeholder confidence.

Preserving Institutional Knowledge: Long-term leaders hold a wealth of knowledge and experience that can be hard to replace. Succession planning ensures that valuable insights are passed on to future leaders, preventing knowledge gaps.

Attracting Top Talent: Organizations with a strong reputation for leadership continuity and internal promotion can attract high-performing executives who value stability and growth opportunities.

Mitigating Risks: An unplanned leadership gap can expose a company to various risks, including market share loss, decreased employee morale, and investor uncertainty. A succession plan mitigates these risks by ensuring leadership stability during transitions.

How Executive Search Firms Can Assist

Executive search firms play a pivotal role in helping businesses create and execute effective succession plans. These firms offer a strategic, consultative approach that goes beyond filling a vacancy. Here’s how they add value to the succession planning process:

Identifying High-Potential Leaders: Executive search firms have access to a vast network of industry leaders and emerging talent. They can identify high-potential candidates who are not only capable of filling executive roles but also align with the company’s long-term goals.

Assessing Leadership Skills: Search firms conduct in-depth assessments to evaluate candidates' leadership capabilities, cultural fit, and potential for growth. They utilize tools such as behavioral assessments and leadership simulations to ensure that selected candidates have the skills to succeed in future roles.

Leadership Development: Once potential successors are identified, executive search firms can assist in developing their leadership skills through targeted coaching, mentoring, and executive training programs. This ensures that when the time comes, the successors are ready to take on more significant responsibilities with confidence.

Navigating Sensitive Transitions: Executive transitions, especially when involving a long-term or founding leader, can be sensitive. Search firms provide guidance in managing these transitions smoothly, ensuring that internal and external stakeholders are informed and engaged throughout the process.

Diversity in Leadership: A successful succession plan should prioritize diversity and inclusion. Search firms are equipped to help organizations broaden their search and consider diverse candidates who bring new perspectives, fostering innovation and improved decision-making at the leadership level.

Succession planning is no longer just a "nice-to-have" for companies—it’s a strategic imperative. By preparing for executive transitions well in advance, businesses can ensure they remain resilient and competitive in an ever-evolving market.

Partnering with an experienced executive search firm can significantly enhance this process, providing expert guidance, access to top talent, and support in developing future leaders. In doing so, companies not only prepare for the unexpected but also position themselves for continued success and growth, no matter who’s at the helm.

Open Roles?- September 2024

As DRI works across the nation on high-level roles for our clients, we are always open to speaking with professionals who are interested in the roles listed below, or who would simply like to network.

Sales and Marketing Leader

Our client, a global specialty resins manufacturer, seeks a sales and marketing leader to spearhead its growth in the U.S. market.?

• Candidates with a history of selling thermoformed healthcare packaging strongly preferred
• Demonstrated history of bringing on new customers
• Deep knowledge of the packaging value chain, including resins manufacturers, extruders, thermoformers and brand owners
• Excellent opportunity to join a young, growing company

VP of Sales - Northern California

• Manufacturer of custom motion control products including, Stepper, StepServo and Servo Motors and Drives
• Experience developing sales strategy to drive growth and revenue
• Experience developing relationships with OEM customers
• Experience building and managing a sales team
• Education: Bachelor’s Degree in Industry Relevant field
• Ability to travel 50%
• Location: In Person - Greater San Jose Area
• Compensation: Base - $250K+

Head of Sales

• Our client: a global manufacturer & integrator of conventional & automated racking solutions
• Location: anywhere in the U.S.
• Travel: 35-50% overnight
• Salary: $150-175K base + variable comp
• Full benefits, 401K, company car, car allowance
• Responsibilities include identifying new potential customers such as integrators, distributors, fork truck manufacturers, and ASRS OEMs
• 5+ years of leadership experience & 5+ years of individual sales experience within the material handling industry

Sales Development Executive

• Our client: an innovative material handling equipment & software integrator, looking for a motivated Sales professional.
• Looking for track record of hunting/new business development
• Ideally located in OH
• Must come from material handling/industrial automation sales
• Extremely high commission earning potential on top of base salary - not unheard of for this person to eventually reach 7 figures

Western Regional Sales Manager

• Our client: an innovative manufacturer of vision inspection systems for the food manufacturing
• Territory: Rocky Mountains, West?
• Experience selling equipment or parts/services into food manufacturing required
• $100K base salary with uncapped bonus potential

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Midwest Sales Manager

• Our client: a strong packaging equipment company with a billion dollar global footprint
• Territory: Midwest - MI, IL, IN, MN, IA, MO, OH with 50% overnight travel
• Experience selling capital equipment into food, with a background in packaging or food processing
• $100K base salary with uncapped commission structure

NorCal Sales Engineer

• Our client: A global, billion-dollar manufacturer of end-of-line packaging solutions
• Territory of Northern California and Nevada
• Experience selling automation or equipment into manufacturing required
• $75-95K base. $100K OTE (variable)

Featured Candidates?- September 2024

Below you will find a few featured candidates we have spoken with who are open to new opportunities. If you would like to get in contact with any of the candidates below, please reach out.

General Counsel or Chief Legal Officer candidate who was worked both in a firm and in-house with many startups

• A true generalist but has a background in life sciences and intellectual property
• Has mostly worked in the bio-pharma and life sciences spaces but is industry agnostic
• Located in Eastern Orange County and is licensed to practice law there and in Colorado
• Open to relocation within California or possibly some surrounding areas or a remote/hybrid situation

Machine Vision Sales Engineer – Grand Rapids, MI

• 10yrs experience selling cutting edge machine vision solutions
• Has worked mostly within automotive segment working with OEMs, Tier 1-3 suppliers, and integrators
• Has sold AI powered vision solutions, cameras. sensors and laser markers
• Currently at a start-up accounting for over 50% of their gross sales and has historically been a top producer at previous more established company

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Account Manager based on the West Coast

• Product experience: Packaging equipment; marking/coding equipment, inkjet machines. Food and Beverage equipment.
• Customer base: Manufacturing, Food and Beverage, nutraceutical and pharmaceutical industries.
• Honored as Rookie of the Year, as well as Presidents Club every year following.
• Restored territory operations YoY growth within 12 months after 5 years of flat top line performance

Account Manager based in Dallas, TX

• Product experience: Various types of Belting for Conveyors, conveyor accessories like rollers, sometimes deal with OEM partner for whole conveyor systems
• Customer base: Sells a lot into packaging of bottles, corrugated mfg, logistics/warehouse, tire mfg, aluminum extrusion, etc.
• Actively prospect territory for new customers through cold calls and introductory presentations, while growing relationship with current customers to further penetrate accounts and grow sales
• Accomplishments:

Engineering Manager based in Baltimore, MD

• MSME, BSME
• Material Handling Equipment & Systems Integration- conveyors, sortation, palletizing
• eComm, distribution, post & parcel, food & bev, packaging
• Managing 90+ engineers with 6 managers - 4 teams in US, Europe & Asia
• Responsible for: Business strategy, engineering strategy, project management, design
• $250K+ OTE
• *open to relocation

Business Development Manager based in Charlotte, NC

• Product experience: MHE - Conveyors, Sortation systems, storage and retrieval systems, carousels, pallet and delivery systems
• Sells to end users & integrators
• Deals: $20K up, $250-500K typical, up to $4M
• Sales growth: 740% revenue increase from 2021 to 2024

Project Manager based in Atlanta, GA

• 7 years with an industry leading manufacturer of fill equipment
• Aseptic filling subject matter expert
• Manages new equipment project budget of $5M to $20M with project duration from 6-months to 1-year.?
• Prepared project technical specifications, installation schedule, budgetary, and commercial offer for projects budgeted from $2M to $15M
• Open to travel as needed, open to relocation

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