Judy, the CEO of Apollo Ltd, plans to retire within two years and has informed David, the chairperson of the board of directors (who also chairs the nomination committee) of her intention. She told David that the CFO is a good candidate to succeed her position because he is great at financial management and has a similar management style to her though she is not against external recruitment.

REQUIRED

Advise David how the nomination committee should design and carry out a succession plan for Judy.