Gratitude Galore over TIAA Succession

I have been following the fairly unusual external communications from the incoming CEO at TIAA. TIAA, a top provider of secure retirements and investments, named Thasunda Brown Duckett to succeed Roger W. Ferguson, Jr., as President and CEO as of May 1st. This is a big deal succession since Ferguson is so highly respected and Duckett is joining from prestigious JPMorganChase where she was CEO of Chase Consumer Banking. Duckett will not only be the second Black woman currently heading a Fortune 500 firm, but she will also be just the fourth Black woman in history! to serve as a Fortune 500 CEO. I’ve been watching her roll out on social media and the excitement over this passing of the torch is palpable.

Once the announcement was made, Duckett thanked her former colleagues at JPMC. See below.

She also thanks Roger Ferguson when he mentioned how thrilled he was to have her coming aboard. Duckett thanked her new TIAA “family” as well. Her enthusiasm and passion practically lifts off the page.

Duckett was also named to the esteemed Barron’s 100 Women Making their Mark in Finance list and in another tweet thanked Barrons for the honor and referenced her move to TIAA.

The reason that I am so glued to this succession process has to do with something I learned long ago. I was carefully watching another CEO succession and it was so dry and devoid of emotion. I remember thinking to myself that this should never happen. The well-planned, seamless CEO transition needs to exude excitement and meaning. It is a one of a time moment in corporate history that affects employees, customers, investors, the media, alumni, and so on. Make it worth their time!