Board of directors face the major challenge of CEO selection and succession more frequently in today’s business than ever before.
Excerpt……..The challenge of CEO turnover is one that boards may face more often than they would like. One source estimates that 40 percent of new CEOs depart within 18 months of their appointment, while 64 percent depart within four years. [1] Nor is the transition inexpensive: The cost of replacing a CEO can range from several million dollars for small-cap firms to tens of millions of dollars for large-cap firms
Read full article…..via Advice for Boards in CEO Selection and Succession Planning — The Harvard Law School Forum on Corporate Governance and Financial Regulation.
