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Fidelity does have a succession plan in place to ensure a smooth transition.

The lesson is that, No. 1, this management has to be at the highest class possible. No. 2, they have to have a succession plan.

When you're building a company, you need to continually strengthen every component - finance, strategic partnerships, executive team, and relationships with every last constituency.

We have very strong succession plans across all group companies. But we do not comment on it. The retirement age is 60 years, but it does not apply to family professionals who work in the business.

Although strength should fail, the effort will deserve praise. In great enterprises the attempt is enough.

Great companies in the way they work, start with great leaders.

Sometimes in your career, you are at the right place at the right moment. But you have to be aware that eventually you may no longer be the right person for that position. So build your succession and foster for it while you are still at the peak of you career.

I think every responsible public board at every board meeting should be discussing succession. And, of course, Walmart has a very mature board: our chairman Rob Walton and other members. So succession is an ongoing. I think when I first joined the board of directors, it was discussed then. And it's discussed at every board meeting continually.