Insights
Odgers Berndtson: What Most Companies Get Wrong About CEO Succession
Appointing the wrong CEO carries significant costs, negatively impacting morale, productivity, reputation, culture, and the bottom line. From a financial perspective alone, unplanned CEO turnover across the globe costs shareholders $112 billion in annual returns. Despite this, CEO succession planning remains underdeveloped in many companies. A lack of external benchmarking, appointments based on short-term goals, unprepared candidates, a reliance on overconfident executives, and insufficient assessment data are the primary contributors to poor leadership appointments.
Read the full article to better understand why these cost companies so much and why addressing these issues will help boards appoint the right CEOs.
Thought leadership category