Succession

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Succession

The rules of or process by which a person goes about filling a role previously held by another person. In estates, succession determines who owns the property of the decedent, with everything going to the next of kin in the absence of a will. In business, succession is the process by which one employee, especially a major executive like the CEO, is replaced by another person. In determining succession, a board of directors ought to exercise caution to ensure that an executive is not only competent, but also does not bring any conflicts of interest to the company.
References in periodicals archive ?
Succession rules may, therefore, be situationally determined and include various types of internal and external successions.
Its lack of clear succession rules, as we know them, led to bloody civil conflicts and murders of near relatives.
It can help to speak to a specialist first, who will be able provide advice on a wide range of issues from local tax, inheritance and foreign succession rules to existing planning permissions and planning laws.
Panel discusses imperial succession rules on female monarch
Other holiday destinations, such as France, also have restrictive land ownership succession rules.
Under current succession rules, only male offspring can ascend to the Chrysanthemum Throne.