CEO Succession: Getting Your Successor on a Board

While some companies disapprove of their CEOs serving on another board, others recognize that sitting on the other side of the board table provides unique insights for a CEO and see it as an integral part of succession planning. To gain perspective on this issue, I spoke with Bill Mitchell, the chairman and former CEO of Arrow Electronics (ARW), who worked closely with his board on a comprehensive CEO succession plan over the past three years. Edited excerpts of our conversation follow:

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