{"id":410,"date":"2006-11-01T17:03:30","date_gmt":"2006-11-01T23:03:30","guid":{"rendered":"http:\/\/selectmetrix.com\/blogs\/?p=410"},"modified":"2006-11-01T17:03:13","modified_gmt":"2006-11-01T23:03:13","slug":"ceo-turnover","status":"publish","type":"post","link":"http:\/\/selectmetrix.com\/blogs\/2006\/11\/ceo-turnover\/","title":{"rendered":"CEO Turnover"},"content":{"rendered":"<p>We first posted about <a href=\"http:\/\/selectmetrix.com\/blogs\/?p=262\" target=\"_blank\">CEO turnover in this post<\/a>. Now BusinessWeek comes along with an article titled <a href=\"http:\/\/www.businessweek.com\/magazine\/content\/06_44\/b4007086.htm?campaign_id=rss_null\" target=\"_blank\">The Great CEO Exodus<\/a>.<\/p>\n<p>CEO&#8217;s get a bad rap about their compensation packages, but it is not an easy job. Now consider the pressure being exerted on these leaders:<\/p>\n<blockquote><p>Not so long ago, a new CEO like McComb would have had six to nine months to get his act together. Not any more. Management experts say the newly minted boss has about <strong>90 to 100 days<\/strong> to start implementing strategy.<\/p><\/blockquote>\n<p>It would appear that there is a drastic candidate shortage even at the CEO level:<\/p>\n<blockquote><p>Gerard R. Roche, senior chairman of leading recruiter Heidrick &#038; Struggles, says it&#8217;s getting harder to fill high-level openings as more candidates opt to work at private equity firms or run private companies. &#8220;We have to work harder than we used to,&#8221; says Roche. &#8220;We used to think, &#8216;tell us your need and we&#8217;ll give you half a dozen candidates.&#8217; Now [those candidates] say, &#8216;I&#8217;ve been talking to Blackstone and Kravis and I&#8217;m thinking about going private.'&#8221;<\/p><\/blockquote>\n<p>(As an aside, don&#8217;t you love the name of the recruiting firm &#8211; Heidrick and <em>Struggles<\/em>?)<\/p>\n<p>Jim Collins has a fantastic take on the CEO struggle:<\/p>\n<blockquote><p>In researching his best-seller <em>Good To Great<\/em>, management guru Jim Collins found that of those companies whose stocks outperformed the competition over the long term, <strong>90% had a homegrown CEO<\/strong>. Why did they do so well? Because they knew which people on staff were good and where best to deploy them.Even so, Collins notes that most of these CEOs didn&#8217;t get their program humming until <strong>seven years into their tenure<\/strong>, just when the average company boss today is walking out the door. &#8220;The best chance for spectacular results comes from insiders who have enough time to lay the foundation that will lead to them,&#8221; says Collins. &#8220;If we&#8217;re systematically lurching for saviors and shorting the amount of time a CEO gets, we&#8217;re on a systematic path toward increased mediocrity.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>We first posted about CEO turnover in this post. Now BusinessWeek comes along with an article titled The Great CEO Exodus. CEO&#8217;s get a bad rap about their compensation packages, but it is not an easy job. Now consider the pressure being exerted on these leaders: Not so long ago, a new CEO like McComb would have had six to nine months to get his act together. Not any more. Management experts say the newly minted boss has about 90 to 100 days to start implementing strategy. It would appear that there is a drastic candidate shortage even at the CEO level: Gerard R. Roche, senior chairman of leading recruiter&hellip; <a class=\"read-more\" href=\"http:\/\/selectmetrix.com\/blogs\/2006\/11\/ceo-turnover\/\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[5,22],"tags":[],"class_list":["post-410","post","type-post","status-publish","format-standard","hentry","category-trends","category-turnover"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5Oho-6C","jetpack-related-posts":[{"id":419,"url":"http:\/\/selectmetrix.com\/blogs\/2006\/11\/firing-the-ceo\/","url_meta":{"origin":410,"position":0},"title":"Firing the CEO","author":"Derrick Moe","date":"November 6, 2006","format":false,"excerpt":"Last week we posted on the CEO turnover problem both here and here. Today, I caught up to a lengthy CareerJournal.com article regarding How to Fire a CEO: It's Harder to Sack the Boss. It is an interesting read about the multiple dismissals that have arisen recently. This topic hits\u2026","rel":"","context":"In &quot;Compensation&quot;","block_context":{"text":"Compensation","link":"http:\/\/selectmetrix.com\/blogs\/category\/compensation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":345,"url":"http:\/\/selectmetrix.com\/blogs\/2006\/10\/pay-for-performance\/","url_meta":{"origin":410,"position":1},"title":"Pay for Performance","author":"Lee Fratzke","date":"October 6, 2006","format":false,"excerpt":"At Select Metrix, we constantly preach that compensation plans should be, in part, tied to an individual's performance. So when I was reading through my newsletters and RSS feeds, I was amazed to find stats from several different articles and feeds. First off, CEO turnover is up. The numbers show\u2026","rel":"","context":"In &quot;Compensation&quot;","block_context":{"text":"Compensation","link":"http:\/\/selectmetrix.com\/blogs\/category\/compensation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":412,"url":"http:\/\/selectmetrix.com\/blogs\/2006\/11\/the-cure-for-ceo-turnover\/","url_meta":{"origin":410,"position":2},"title":"The Cure for CEO Turnover","author":"Derrick Moe","date":"November 1, 2006","format":false,"excerpt":"Honestly, I just came across this article - Women CEOs Experience Longer Tenures, Faster Growth - as a follow up to my previous post. This study is from a limited sample of Massachusetts-based companies with an average size of $54M\/year revenue and 120 employees. Not huge, but sizeable companies nonetheless.\u2026","rel":"","context":"In &quot;Trends&quot;","block_context":{"text":"Trends","link":"http:\/\/selectmetrix.com\/blogs\/category\/hiring\/trends\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":628,"url":"http:\/\/selectmetrix.com\/blogs\/2007\/02\/bosses-gone-wild\/","url_meta":{"origin":410,"position":3},"title":"Bosses Gone Wild","author":"Derrick Moe","date":"February 2, 2007","format":false,"excerpt":"Super Bowl week leads to this article from CareerJournal.com. I am a big Tony Dungy fan and the article provides an interesting look at his managing\/coaching style (an excellent style in my opinion). The excerpt that I enjoyed: The vice president of marketing at a Silicon Valley company attributes rapid\u2026","rel":"","context":"In &quot;Communication&quot;","block_context":{"text":"Communication","link":"http:\/\/selectmetrix.com\/blogs\/category\/communication\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":364,"url":"http:\/\/selectmetrix.com\/blogs\/2006\/10\/activist-shareholders\/","url_meta":{"origin":410,"position":4},"title":"Activist Shareholders&#8230;","author":"Derrick Moe","date":"October 13, 2006","format":false,"excerpt":"are two words you don't want to hear if you are CEO of a publicly-traded company. From Inc.com: At public companies, this [turnover] is reflected in the rise of activist shareholders, Jacovitz said, seen most recently in the public ousting of top executives at Hewlett-Packard. I think there may be\u2026","rel":"","context":"In &quot;Hiring&quot;","block_context":{"text":"Hiring","link":"http:\/\/selectmetrix.com\/blogs\/category\/hiring\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":827,"url":"http:\/\/selectmetrix.com\/blogs\/2007\/04\/compensation-limitations\/","url_meta":{"origin":410,"position":5},"title":"Compensation Limitations","author":"Mike Cardinal","date":"April 17, 2007","format":false,"excerpt":"The illustrious Mr. Hammer has been attempting to illicit a response from me regarding Executive Compensation. His latest post Why Executive Salary Caps Don\u20ac\u2122t Work requires a response. Maybe I missed it in his post, but, I don't see where Mr. Hammer separates the \"Public\" domain from the \"Private\" domain.\u2026","rel":"","context":"In &quot;Compensation&quot;","block_context":{"text":"Compensation","link":"http:\/\/selectmetrix.com\/blogs\/category\/compensation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/comments?post=410"}],"version-history":[{"count":0,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/410\/revisions"}],"wp:attachment":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/media?parent=410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/categories?post=410"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/tags?post=410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<!-- WP Super Cache is installed but broken. 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