Changes at the Top: The Antecedents of Executive Turnover and Succession
Changes at the Top: The Antecedents of Executive Turnover and Succession
This chapter begins with a broad introduction to the concept of CEO succession. In the first major section, it discusses the drivers of executive succession, focusing on several important antecedents of succession such as organizational performance, agency conditions, organizational characteristics, the environment, and predecessor characteristics. Much of the discussion of antecedents emphasizes involuntary turnover or dismissal. In the second section, the chapter focuses on the dynamics of the CEO succession process, analyzing types of succession and the influence of the incumbent CEO versus the board of directors. The final section assesses the question of who will be selected. Topics here include insider versus outsider selection and the broader issues of continuity versus change.
Keywords: CEO succession, relay succession, horse race succession, insider CEO succession, outsider CEO succession, succession processes
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