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Personnel Today

CEO moves bad for business

by Personnel Today 16 Jul 2002
by Personnel Today 16 Jul 2002

The decreasing length of time CEOs are spending in their jobs could result
in long-term harm to organisations, HR consultancy DBM has warned in its annual
global survey of CEO turnover.

The survey, Turnover at the Top: Research Highlights from a Global Study,
shows the median tenure for a global CEO is just 2.75 years, with the UK
showing one of the lowest average lengths of service.

In all, 62 per cent of CEOs in the UK had less than three years in the job.
This compares to an average of 50 per cent of CEOs overall elsewhere.

The survey reveals 86 per cent of company heads are still chosen from within
the organisation – indicating a clear opportunity for companies to focus on
succession planning.

On average a CEO will have spent more than 20 years with a company before
reaching the top.

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However, only 2 per cent of the 481 large companies surveyed rated their
succession planning as excellent, two-thirds described them as fair or worse.

John Gilkes, head of DBM’s International Directors Centre, said:
"Quarterly reporting, mass industry consolidation and the growing emphasis
on corporate governance mean CEOs must demonstrate visible short-term bottom
line growth, often at the expense of the long-term company strategy."

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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