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SMOOTH TRANSITION: "The people who come to work every day need to be totally comfortable that they are not going to come in and find a different environment," says Lakeland's Michael Kubacki, who stepped down as CEO last month.

Why It Pays to Engineer a Smooth CEO Succession

Executive pay packages have long been structured to reflect performance. But one key task that often gets short shrift from bank directors and CEOs is succession planning. Now pressure is mounting for that to change.

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