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Our view is that in most cases reaching out to and embracing the predecessor is the better approach. That way you can sustain a sense of continuity within the organization, instill a sense of connectivity, and learn the critical unwritten information that the previous CEO has amassed over the years.

That’s especially important when you’re succeeding a legendary leader who has built up tremendous loyalty. Having your predecessor confer his or her official blessing on you can help transfer that loyalty - or at least prevent it from turning into resentment.