The current business landscape has been exceptionally turbulent, presenting unprecedented challenges for CEOs across industries. With rapid technological advancements and the lingering impact of the global pandemic, CEOs have faced a tumultuous time navigating their organizations. While some leaders have successfully steered their companies toward new opportunities, others have faltered, leaving a lasting mark on the corporate landscape.
Their stories underscore the importance of ethical business practices, prioritizing employee well-being, and the necessity of thorough planning and testing before launching new products. As some CEOs and organizations have faced significant setbacks, their experiences serve as reminders of the challenges and responsibilities that come with leadership. In fact, the average CEO tenure has significantly decreased from an average of 12 years to 5-7 years post-pandemic.
At Ferguson Partners, our CEO succession team continues to see organizations proactively managing their leadership for the future, many opting to build 5–7-year succession plans. In the first part of 2023, 106 CEOs retired and 25 stepped down. While specific details regarding these exits are typically undisclosed, it is evident that more CEOs are exiting due to the new pressures of their roles, the relentless pace of change, and, in some cases, their own actions.
Finding and developing this type of executive talent has always been an existential challenge for companies. When a new CEO turns out to be the wrong person to lead a company, the fallout can be considerable and it can even happen to otherwise well-run organizations.
To learn more, including how the CEO role has changed as well as advice for CEOs on how to effectively lead with purpose and drive team and organizational performance, see the full article.
Download a PDF The Post Pandemic CEO: Navigating Reputational Risks in a New Era.
For additional information, contact Dominic Cottone and Samuel Kuiper.