Half of finance directors have no succession plan at their firm

MORE than half of UK finance directors have no succession plan in place according to research released today.

The survey of 200 finance directors by recruitment consultancy Robert Half found 55 per cent of respondents had no plans to ensure a smooth transition at their business,

Yesterday Barclays confirmed that group finance director Chris Lucas was leaving the business but said it would take “a considerable time” to find a replacement, highlighting the difficulties associated with finding suitable top-level executives.

“With a raft of high profile senior resignations over the past year, it is surprising to see such a large proportion of financial directors without a chosen successor, or indeed the pool to choose from,” said Phil Sheridan, of Robert Half.