Generally, there are two reasons a person leaves: they quit, or they're fired.
Applying that to the situation you've laid out, there's two general possibilities:
The managers are quitting. Aka, the jobs stinks so badly that none
of them are willing to do it for more than a few months.
The managers are rapidly being fired. Aka, either there's been a
A very short overview of ideal candidates will follow. Please note that real senior managers might not be that skilled as they should.
good interpersonal skills
(at least minimal) knowledge of the following sciences:
psychology of teams
specialization in the disciplines for their role: finances, IT, marketing, HR...
This is your managers problem. Not yours. Go along for the ride and enjoy the drama like a cheap tabloid magazine at a grocery checkout line. This ladies and gentlemen is what I like to call a blank check.
I must guiltly accept I was a bit relieved when he quit.
Don't feel guilty about that. His leaving sounds like a great result all around.
How to handle the immediate situation of having proper handover as it will affect me in future
Raise it with your manager.
You suggest your manager struggles to be firm with the leaving employee. Okay, so if she ...
It's going to be impossible to "force" this co-worker to cooperate in a meaningful way. I've encountered this problem a couple of times where the person leaving is disgruntled (justifiably) about their career in that workplace, they give notice and mentally check out until the last day. That sounds like what is going on here. At best, the co-worker is going ...
One way of looking at this, is that the guy has effectively been hit by a bus, but with extreme manager-involved effort it may be possible to arrange a "seance" and get answers to some specific questions "from beyond the grave"
In other words, you have an opportunity here to figure out what it is really going to mean to carry projects forward without him. ...
So the guy has no work ethic, has given up completely, and wants to sit out the clock. Oh dear.
At this point I would go on the offensive. Prepare a list of topics for the KT and keep scheduling meetings with him. CC your manager and +1 in the invitation, so that they're in the loop, but don't invite them to the meetings.
As soon as he cancels a meeting, ...
You should ask for advice from a small business lawyer on questions of business structure. The structure you choose must first comply with local regulations, and second, be an effective structure for managing your business.
In the United States, the structure of your business is, to some extent, dictated by the regulations under which your business was ...
In North America at least, it is very much possible to have an Executive Chairman who is different from the CEO. It does raise some questions, however, since the normal division of labour between a Chairman and a CEO is one of strategy vs. operation/execution. If the Chairman is ultimately responsible for both the former and the latter, what is the purpose ...
Depends on the Country but the best practice is to have an independent Chair i.e. not an employee. The Chair works for all the share holders and not the company its self.
The UK formal guidance is they are separate roles and the Chairman is not an employee, break this guidance and dependant on the size of the company and you will get some blow back.