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How And Why Companies Should Prepare Now For The Departure Of Their CEOs

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Between mid-March and April of 2020, “as pandemic-induced lockdowns began, we saw almost everything related to CEO succession plans, both from the CEO and board perspectives, come to a halt,” he noted. Now, as the pandemic continues to fade and more businesses return to normal,"The pent-up demand and overdue leadership changes could slingshot to record CEO turnover in 2022-2023,” Citrin said.“A high rate of Americans are quitting their jobs each month, and CEOs are no exception.

The company noted that “Over the last 20 years, four roles—chief operating officers, divisional CEOs, chief financial officers and ‘leapfrog’ leaders promoted from below the second layer of management—represented the last-mile experience of 85% of freshly minted CEOs.

 

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