OFF THE PRESS

Plante Moran PLLC announces the release of its new book, "Succession Transition: A Roadmap for Seamless Transitions." Widely known for its award winning corporate culture (the firm has been on the FORTUNE 100 Best Places to Work list for 13 consecutive years), Plante Moran has one of the lowest turnover rates in the profession and has been lauded for its high percentage of women partners. Not until now, though, has the firm offered an inside look at its approach to grooming individuals to step into key leadership positions, including the ultimate leadership role, firm managing partner. "Succession Transition: A Roadmap for Seamless Transitions" was written by former managing partner Bill Hermann, CPA, and Plante Moran managing partner Gordon Krater, CPA, with Pulitzer Prize winning journalist Sheryl James. Hermann served as the firm's managing partner from 2001 to 2009, and Krater is in the third year of a four year term. Hermann saw the firm through several mergers and expanded the firm's geographic footprint, reputation and new client opportunities. He is now the practice group leader of Plante Moran's Services Group. Krater has navigated the firm through unprecedented challenges in the economy; yet, the firm's existing client relationships and ability to attract new clients remain exceptionally strong. "The goal of the book was to create a primer on succession transitions through leadership development, but it's not a how-to book, per se," says Hermann. "Successful leadership transitions take years, not months. That's because there's no substitute for investing time to cultivate and nurture those with the potential for leadership. Without a commitment to guide up-and-coming leaders, there can be no successful leadership transition." "Succession Transition: A Roadmap for Seamless Transitions" focuses on six key areas that create sustainable and healthy organizations--a necessity for a truly successful leadership transition: * Organizational culture. * Communication and recognition. * Leadership selection. * Development. * Experiential learning. * Mentoring. The book offers examples as to why executives are encouraged to keep an open mind when identifying future leaders. Krater cites the example of one partner who was extremely shy early in her career. "Now she has risen not only to leadership roles in the firm but in the public accounting profession. She would never have been tapped for leadership opportunities if the firm followed a pre-determined leader mold." For those who love their roles, timing to stepping away from leadership can be just as important as stepping into it, says Hermann. "Being a good leader means knowing when to get in and when to get out," offers Hermann in the book. "The decision to give up leadership is as difficult as deciding who should take over leadership. If you are the current leader, you may recognize that the next era for your business requires skills that aren't necessarily your strengths." "Succession Transition: A Roadmap for Seamless Transitions," with a foreword by Wayne State University President and former Ford Motor Company CFO, Allan Gilmour, is published by Momentum Books. Copies can be purchased for $19.95 on-line at amazon.com or www.momentumbooks.com. Published: Tue, Nov 8, 2011