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Majority of new CEOs promoted from within: study

LiveMint logoLiveMint 12-05-2014 PTI

Dubai: A vast majority, or 70%, of chief executive officer (CEO) turnovers at the world’s largest 2,500 public companies in 2013 were planned events, as opposed to forced turnovers or the result of mergers, according to a new study.

About 76% of incoming CEOs were ‘insiders’ who were promoted from within the company, said the newly released 2013 Chief Executive Study from Strategy& (formerly Booz & Co.).

“The high proportion of planned turnovers is a strong signal that companies are continuing to take an active, considered approach to putting in place new leadership,” said Gary L. Neilson, senior partner at Strategy& and co-author of the 14th annual global Chief Executive Study.

The study examines trends and patterns among incoming and outgoing CEOs of the world’s 2,500 largest public companies. It also looks at women CEOs over the past 10 years as well as overall succession trends with a focus incoming class of CEOs of 2013. PTI

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