“CEO Turnover Adopts Global Pattern”
An article in the May 12 issue of The Financial Times detailed the findings of Booz & Company’s ninth annual survey of CEO Succession, “Stability in the Storm,” which found that in the face of the worst economic crisis since the Great Depression, CEOs in 2008 demonstrated surprising “recession resistance.” Although CEO turnover rose slightly on a global basis from 13.8 percent in 2007 to 14.4 percent in 2008, the survey revealed that turnover in 2008 actually declined in North America and Europe, the regions hit first and hardest by the economic slowdown. Booz & Company’s study of global CEO succession patterns examined the degree, nature and geographic spread of leadership change among the world’s 2,500 largest publicly traded companies. It generated prominent coverage, which in addition to the UK, U.S., Middle East, Asia and Europe editions of The Financial Times, included articles in Les Echos, Handlesblatt, NRC Handelsblad, Valor Econômico, and CNBC.