'Once again, the new class is dominated by veteran insiders who are replacing leaders who served their full, surprisingly lengthy terms, in carefully planned successions.'
The report on the class of 2018 could be subtitled,"a study in stability," or even"here we go again." Feigen has been producing the report since 2014, and this year's results underscore the relentless, year-to-year consistency in the way corporate America transitions to new leaders––for good and for bad. Once again, the new class is dominated by veteran insiders who are replacing leaders who served their full, surprisingly lengthy terms, in carefully planned successions.
But corporate America's adherence to long-established practices has glaring weaknesses, including the boards' failure to groom women for the top job. That's led to a paucity of female CEOs that despite employers' claims of championing their careers, isn't improving. Feigen's"New CEO Report" for 2018 explores a number of key, mostly enduring, trends. Here are five notable examples.Feigen has been producing the report since 2014, so it's instructive to compare last year's results with the trends over the full five-year period. Once again, the consistency is remarkable. The report found that last year, the S&P 250 replaced 23 CEOs. That turnover rate of 9.
Boards promoted 20 of the 23 new CEOs from within the companies's ranks. Sixteen of those twenty insiders were long-tenured veterans who'd spent, on average, well over two decades with their employer. That's right in line with recent history. Since 2014, 112 of the 134 new CEOs have been insiders. For example, Mike Wirth joined
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