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- Title
Global CEO Turnover at Record Highs.
- Abstract
This article reports on the global turnover rate for chief executive officers (CEO). The author examines a 2002 survey conducted by the technology consulting firm Booz Allen Hamilton that found that CEO turnover is accelerating faster in Asia and Europe than in North America. Charles Lucier, senior vice president of Booz Allen, noted that this finding suggests that this phenomenon is fully global and turnover is occurring in regions where companies are not as burdened by corporate governance regulations as in the U.S. The author also discusses some of the other interesting findings of the study such as nearly 40% of CEO departures being forced and that boards of directors appear to be becoming less forgiving for underperformance.
- Subjects
LABOR turnover research; CHIEF executive officers; EXECUTIVE succession; EXECUTIVE ability (Management); CORPORATE directors; CORPORATE governance; BOOZ Allen Hamilton; LUCIER, Charles; PERFORMANCE management; BOARDS of directors; INDUSTRIAL surveys; DISMISSAL of employees
- Publication
Financial Executive, 2003, Vol 19, Issue 5, p10
- ISSN
0895-4186
- Publication type
Article