Jena McGregor wrote a piece for BusinessWeek that examined the surprising slow level of CEO turnover throughout the current recession. While overall unemployment during the same time frame has reached decade highs most top executives with obvious exceptions have managed to stay put. McGregor summed up the situation as follows:
When Abraham Lincoln and Franklin D. Roosevelt campaigned for reelection during wartime, they told voters it was a bad idea to switch leaders midstream. Today, CEOs seem to be convincing their boards of the same thing.
The reporter turned to Liberum for some of her statistics. As reported in the piece, Liberum anticipates an increase in top level turnover as we move into the Fall. Stay tuned.
Recommended Reading – CEO Pensions Encourage Earnings Games, Businessweek Management IQ
October 26, 2009
Recommended Reading – CEO and CFO Career Consequences to Missing Quarterly Earnings Benchmarks – Academic Paper
September 24, 2008
Recommended Reading – Successful leadership – how would you know? London Business School
February 13, 2009
Recommended Reading – SEC Targets CEO Succession Plans – New Risks for Boards, Says Heidrick & Struggles
October 30, 2009
Recommended Reading – Once an Outsider, Always an Outsider? CEO Origin, Strategic Change and Firm Performance – Rice
January 20, 2010
