One of the most challenging tasks a charter school governing board can face is hiring a new administrator. The principal is extremely critical to the success of a school.
It's hard for many principals to raise up other leaders, but research on school reform indicates having a leadership "team" is essential. It shouldn't be the principal alone who carries the vision of the school, he should involve key leaders such as an assistant principal, curriculum and instructional leaders and lead teachers.
It's also good for principals to create an atmosphere where individual staff members are encouraged to pursue their dreams. If someone wants to be a principal, the current principal is the one to help make that happen. Even if that means allowing that staff member to go to another school after the training period.
Every principal should be expected to create a leadership team. The governing board should expect that someone else on staff is prepared to step in should something happen to the principal. Doing anything less is simply not properly planning for the school's sustainability.