Daniel Ives, longtime Tesla bull, recently said: “There’s only one Elon Musk, and they’re not going to create another one of him.” This captures a persistent myth in business leadership—that irreplaceable individuals cannot be replaced.
They can be. Everyone thought Steve Jobs was irreplaceable; Tim Cook arrived and arguably had an even better run. Succession planning is a core CEO responsibility, not optional. If you’re not developing a bench of possible successors, you’re failing at your job—period.
If a CEO truly is irreplaceable, hire two or three people. The Oakland As replaced Jason Giambi with multiple players. In business, you’re not constrained by roster limits.
Jobs understood this. He had the foresight to establish Apple University in 2008—an act of humility and legacy. It instilled his design philosophy deep into Apple for generations. Tim Cook, now executive board chair, likely benefits from courses on his own expertise in logistics and supply chains. Because he won’t be around forever either.
The lesson for all leaders: robust internal training, talent development, and the deliberate instilling of core values and capabilities throughout your organization—this is what matters for long-term firm success.
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