CEO turnover in consumer companies hit a record high last year, in the face of rapid, compounding change. The job has never been harder — tenures are shortening, the environment is less predictable, and the pipeline of leaders ready and willing to step into the role is thinning.

Boards are already responding, reaching more often for leaders with prior CEO experience. But hiring differently is only part of the answer. The boards that treat succession as an ongoing discipline are positioning their organizations to navigate what comes next, rather than just reacting to it.