Beschreibung:
<jats:title>Abstract</jats:title><jats:p>In this article succession systems in large corporations are characterized in terms of seven dimensions: formalization, control systems, resource allocation, information systems, political criteria, technical criteria, and staff role. Descriptive data drawn from a survey of key informants in 235 firms are presented. Hypothesized relationships between succession system characteristics and organization‐level performance measures (corporate reputation and financial performance), given the effects of contextual conditions, are tested. Results reveal that high and low performing firms differ with respect to how they manifest succession systems. Six implications for how succession systems should be managed are proposed.</jats:p>