Colleges and universities across the United States face novel perils that include a decline in enrollment trends, questions about the value of a college degree, and increased scrutiny of institutional practices and policies. Due to the spotlight shined on all aspects of the higher education industry, presidents of colleges and universities have reported the increasingly untenable nature of the job that has led to their shortened average tenure. Additionally, college and university provosts are less interested in seeking the president position for these same reasons. As a result, the popularity of hiring an executive search firm to find the next president has soared. Use of an executive search firm comes with a high price tag. Search firms also are known to "recycle" president candidates whose contract expiration dates remain in the search firm's database long after the president is placed. This recycling of presidents as their contract terms expire exacerbates the costs associated with shortened tenures of the college presidency and leaves little talent in the presidency pipeline as sitting presidents move from one institution to another. Through a mixed-methods approach, this study examined the current state of succession planning in higher education, highlighted the lack of preparedness for presidential transitions, and demonstrated the substantial costs associated with frequent presidential turnover. The study suggests effective succession planning for the president position is critical to reduce the direct and indirect costs of leadership transitions and to ensure institutional continuity and stability. The research offered insights and strategies for higher education institutions to develop and implement effective succession plans for the presidency, particularly when a succession plan for the president position is leveraged through the lens of distributed leadership theory. These insights include recommendations to engage key stakeholders in the planning process, to align succession planning for the president position with institutional priorities, and to foster a culture that supports leadership development and transition. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]