The Lord's coming is what is always put before the believer as a present hope and for this reason there is no provision for official succession. "I come quickly" is the language of Him who orders the Church. Here there is no time or future in the thought of God to suggest any need for succession. In the old Jewish economy it was contemplated but not now in this day of grace.
As to the two statements "the latter times," and "the last days," they are looked at in a moral way as always being present and the churches are addressed as about to meet their Lord upon His return.
There is, of course, a provision in a moral way to have order in the Church but not in appointed offices through official succession. "If any one aspires to exercise oversight, he desires a good work." 1 Tim. 3:11This is a true saying, If a man desire the office of a bishop, he desireth a good work. (1 Timothy 3:1) J.N.D. Trans. Notice that it says, "any one." Then the moral qualifications that are necessary to fill the need of that service follow. The same applies also to deacons. So we see the way that grace today and all through each generation meets the needs of the Church in a moral exercise of souls and not in any officially appointed way.
What was prophesied to succeed the apostles we find in Acts 20:29-3029For I know this, that after my departing shall grievous wolves enter in among you, not sparing the flock. 30Also of your own selves shall men arise, speaking perverse things, to draw away disciples after them. (Acts 20:29‑30). "For I know this, that after my departing shall grievous wolves enter in among you, not sparing the flock. Also of your own selves shall men arise, speaking perverse things, to draw away disciples after them." This was sadly true and is still true. However, each generation in its day has had those godly men raised up to meet their need and it is still so. In Heb. 13:77Remember them which have the rule over you, who have spoken unto you the word of God: whose faith follow, considering the end of their conversation. (Hebrews 13:7) we read: "Remember them which have the rule over you, who have spoken unto you the word of God: whose faith follow, considering the end of their conversation." This refers to those dear faithful servants who have gone on but we remember the Word of God that they ministered to us.
A little farther on it says: "Obey them that have the rule [are the guides] over you, and submit yourselves." These are those in our generation who are serving according to their moral capacity and devotion to God and His Word.
Paul commends the brethren in Acts 20 to God and Word of His grace. These always remain to guide us.