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1、www.hbr.orgHBRCASESTUDYANDCOMMENTARYHowcanColtraneWhentheCEOCan’tfindtherightsuccessortoMarsh?LetGoFivecommentatorsofferexpertadvice.bySandiSonnenfeld•Reprint95509Coltranehasasuccessioncrisis.Who’sresponsible?HBRCASESTUDYWhentheCEOCan’tLetGobySandiSonnenfeldEver
2、ymorning,PaulMarsh,the66-year-old“Outofcontext,”hesaidunderhisbreathashechairman,president,andCEOofColtraneascendedthethirdflight.“EachoneoftheFarmEquipment&Manufacturing,walkedthemanagerswholeftthiscompanyhadserioussixflightsofstairsuptohisoffice.Althoughflaws,
3、”hethoughttohimself.“IhadtokeepatheKansas-basedcompany’sheadquartershadcloseeyeonReston.Wewouldn’thavemetourplentyofelevators,MarshconsideredthegoalsifIhadn’t.AndSeverinsonwouldn’tcon-morningclimbtobeaninstrumentalpartofcentrateonhisownjob.Insteadoffocusingonhis
4、stress-managementplan.Periodically,heEuropeandAsia,hekepttryingtogetintoalsoindulgedinthethoughtthathisdailydomesticaffairs.”climbwasaphysicalsymbolofjusthowfarhisMarshthoughtabouthimself.Hesighed.Al-careerhadcome—fromhisfirstjobsellingCol-thoughheplannedtostayo
5、naschairmanoftraneproductsontheroadtothetopexecutivetheboardofdirectorsforatleasttwoyears,hepostatacorporationthatposted$4billioninknewthatthetransitionwouldstillbedifficult.annualsalesandemployed22,000peopleatAndthedatewasapproachingfasterthanhefourdivisionsin1
6、2countriesaroundtheglobe.thoughtpossible.Theboard’snominatingTodaytheclimbwaspurestressreduction.committee,afour-membergroupledbyBobTuckedunderhisarmwasthemorningpaper,Bronson,aNewYorkinvestmentbanker,hadandonthefrontpageofthebusinesssectionalreadymetfourtimes.A
7、ndrewsandHoffmanwasanarticleaboutMarsh’smanagementstylewereindeedthetwointernalcandidates.Andandimpendingretirement.(See“WhenCol-withthehelpofanationalsearchfirm,thetrane’sMarshStepsDown,WhoStepsIn?”)committeehadalsoidentifiedastrongoutsideCOPYRIGHT©1995HARVARDB
8、USINESSSCHOOLPUBLISHINGCORPORATION.ALLRIGHTSRESERVED.HBR’scases,whicharefictional,presentcommonmanagerialdilemmasandofferconcretesolutionsfromexperts.harvardbusinessr
