Hiring of the new leader is extremely difficult as the leader and the organization are attached together closely. The real leader does not like to leave the current organization and to meet the new challenges. The real leader can be a successful leader in the organization, he or she knows and understands and the same leader can fail in the organization, which invests huge money into hiring the leader, it needs.
Each leader is unique. There are some general leadership qualities, which are universal, but the unique mix of the leadership qualities makes the real leader. You can learn and try to develop your leadership qualities, but you will be no leader, when your mix is not attractive to the audience.
Each organization admires the special mix of the leadership qualities and it is difficult to find the same mix on the job market. You have to research the competitors and other organizations on the market and you will find just few suitable leaders, who could lead your organization into the future.
Additionally, the leaders do not want to change the organization as they are seen as renegades, when they leave the organization before their visions are implemented. The leader can leave the organization just in the moment, when the organization almost finishes with the implementation plan and the leader can choose the new leader with the new vision and new strategy for the future.
Yes, it is quite common, the leader selects the new leader for the organization and it is a part of the leadership development. The excellent leader does not focus just on the vision, but spends a big proportion of time to seeking and developing the new leaders with the potential to create the organization bigger and more successful.
The organization in troubles, which needs to hire the new leader is in extremely difficult position. The leaders have to see the organization as the challenge, but the mission possible as the mission impossible does not attract anyone. Just the leaders, who love big adventure. And the hiring organization has to accept them usually.
It is better to invest more into the Leadership Development Program than in hiring the new leader. It can be cheaper at the end.