With the news that Tim Cook will step down as CEO of Apple, the debate about choosing a successor has sparked a wave of opinions. Whether you are running a Fortune 500 company or leading a team of 50, the core principles of succession planning stay the same. Yet many founders never think about it until they have to, or the idea feels too overwhelming to tackle. I have broken down how to approach this in a practical way, how to ensure a smooth transition, and why putting values at the centre of the decision will always set you up for long term success.