Impact of Chief Executive Officer Succession Planning On Strategic Continuity and Organizational Performance in Nigeria

Abstract

CEO succession planning is a critical process that ensures leadership continuity, strategic stability, and sustained organizational performance. In Nigeria, unstructured CEO transitions have led to financial instability, investor uncertainty, and operational inefficiencies. This study examines the impact of CEO succession planning on strategic continuity and organizational performance within Nigerian firms. It explores the challenges associated with leadership transitions, including cultural biases, regulatory gaps, and resistance to change. Using a combination of case studies and empirical analysis, the research evaluates the effectiveness of structured succession planning in mitigating corporate disruptions and enhancing market competitiveness. Findings indicate that organizations with formalized succession plans experience greater stock price stability, improved investor confidence, and enhanced strategic alignment. The study highlights best practices such as leadership development programs, transparent selection processes, and regulatory oversight to improve CEO succession outcomes. Ultimately, it emphasizes the need for Nigerian companies to institutionalize structured leadership transition frameworks to foster long-term business sustainability.