Sea Bright Enterprises, Inc.

Webster's Collegiate Dictionary, Tenth Edition, defines succession as "the order in which, or the conditions under which one person after another succeeds to a property, dignity, title, or throne". Definition 2c states "the continuance of corporate personality". In the April 1997 edition of Contingency Planning & Management magazine, an article on "Successful Succession", by Drs. Victor Buzzotta and Robert Lefton of Psychological Associates, states that "A survey of 502 human resource professionals, conducted in 1996 by Foresight International indicates that 63 percent of organizations polled did not have a well-developed management succession plan". That percentage does not appear to have been reduced significantly in the past few years.

Executives do, in fact, leave an organization. They die, become disabled, retire earlier than anticipated, or move to the competition. No one can say with absolute certainty that the hierarchy of senior management of the organization will stay in place and be functional for a specific period of time.

As Robert Goizueta, the late CEO of Coca-Cola noted, "designating a successor is the ultimate act of delegation". We believe that creating a Succession Plan is the "ultimate act of leadership". It assures the continuance of the vision and leadership of the organization.

Sea Bright Enterprises, Inc. can assist an organization in creating a Succession Plan that is customized for the organization, so that executive transition becomes as effective and transparent as possible.