One of the reasons why companies use an informal method of succession is because of the emotional aspect of having to judge the CEO on his performance (Cheloha, 2009). Since electing a new successor similar to his predecessor or with high potential within the organization can be risky, the board must be careful not to hurt the feelings of others when electing a new successor who is similar to his predecessor or has high potential within the organization. neglects someone (Cheloha, 2009). Additionally, if the new successor were to leave, his trusty other "creme de la creme" could walk out the door with him and leave much more critical positions to fill (Cheloha,