The maritime industry is on the cusp of a leadership shift. Many of today’s senior executives are edging closer to retirement, according to our Senior Maritime Executive Survey 2025, while the next generation is still establishing itself. Without clear succession plans in place, organisations risk losing not only senior leaders but also the knowledge, relationships, and confidence that underpin long-term success.
The Succession Countdown
Our latest research shows that 9% of senior maritime executives plan to retire by 2027. That may not sound dramatic, but in an industry with specialist skill sets and a finite leadership pool, it’s a number with big implications.
Even more concerning is that 10% of executives report having no succession plan at all. When a senior leader leaves unexpectedly, the damage goes far beyond a vacant chair. Client relationships are disrupted, valuable expertise walks out the door, and the stability of the wider business can be shaken.
Passing the Baton: Is the Next Leader Ready?
Succession planning isn’t a process you can leave until the last minute. Preparing the next leader takes time, investment, and foresight. Every hire you make today has a role to play in shaping the leadership of tomorrow. From entry-level recruits to C-suite executives, each decision influences the future pipeline.
The encouraging news is that 80% of executives believe the next generation has what it takes to succeed in maritime. The real question is whether businesses are doing enough to ensure these individuals are nurtured, retained, and given opportunities to grow into leadership roles.
The Biggest Challenge in Succession Planning
When asked about the toughest aspect of succession, leaders pointed to one issue above all: developing internal talent for key roles.
It’s a fair concern. While hiring externally can plug gaps, it doesn’t create depth within an organisation. Long-term stability relies on investing in people who already understand the culture, challenges, and ambitions of the business. That means creating progression pathways, mentoring structures, and opportunities for high-potential employees to stretch and prove themselves.
But even with strong internal pipelines, no business can rely entirely on “homegrown” leaders. Market dynamics, new technologies, and changing business strategies all create moments where external expertise is essential. That’s where executive search becomes an invaluable tool.
Where Executive Search Fits In
Succession planning isn’t only about preparing the leaders you already have. It’s also about knowing when and how to bring in fresh perspectives. Retained executive search supports succession planning in several critical ways:
Access to hidden talent: Most senior maritime leaders aren’t actively job hunting. Executive search identifies and engages these passive candidates who could be the perfect fit.
Market intelligence: By mapping the leadership landscape, retained search provides insight into the availability of talent, compensation benchmarks, and the skills most in demand.
Confidentiality: Leadership transitions are sensitive. Executive search ensures these processes are handled discreetly and professionally.
Future-proofing: Retained partners don’t just help fill immediate gaps; they also work with clients to anticipate future leadership needs and build strategies around them.
At Faststream, our long-standing relationships with senior executives give us a unique advantage. Because these leaders know and trust us, they engage with opportunities that might never cross their radar otherwise. This allows our clients to start succession conversations earlier and secure talent before the competition.
Final Thought
The maritime industry faces a critical test. With nearly one in ten senior executives planning to retire in the next two years and some businesses still lacking formal succession plans, the time to act is now.
Succession planning is about ensuring continuity, protecting relationships, and creating confidence in the future. Retained executive search offers the strategic support to make this happen, blending deep market knowledge with trusted relationships to deliver the leaders businesses need today, and the ones they will need tomorrow.
For maritime organisations serious about long-term success, succession planning can’t be treated as an afterthought. It must become a priority, and the right executive search partner can make all the difference.
What's next?
If these challenges resonate, our team would be glad to arrange a short conversation about your upcoming senior recruitment needs.
