Management Succession and Corporate Survival of Multinational Oil and Gas Producing Companies in Nigeria
Vol.6 Issue 1
This study examined the relationship between management succession and corporate survival of multinational oil and gas producing companies in Nigeria. The study adopted a cross sectional survey design. Using the census sampling technique, responses were solicited from 52 top management staff of the five multinational oil and gas producing companies in Nigeria selected for the study. As a quantitative study, the primary data collection instrument utilized was the structured questionnaire. The test for the reliability of the instrument was carried out using the Cronbach alpha reliability instrument with a reliability threshold of 0.70. Spearman Rank Order Correlation Coefficients was utilized to test the hypothesized relationships with the aid of Statistical Package for Social Sciences (SPSS) version 23.0. Findings from the study reveal that there is a positive significant relationship between management succession and corporate survival of multinational oil and gas producing companies in Nigeria. The study recommends that the management of multinational oil and gas producing companies in Nigeria should develop a succession planning strategy that best suits their peculiar situation but that will ensure early identification of potential management successors for strong internal career progression complemented by training and development to ensure seamless transition, continuity and corporate survival.
