CEO Talent: A Dime a Dozen, or Worth its Weight in Gold?
8 Pages Posted: 14 Jun 2018
Date Written: June 2018
Very little sophisticated research exists on the size, quality, and efficiency of the labor market for CEO talent. This paper sheds light on this labor market by considering the perspectives of directors directly responsible for hiring and firing the CEOs of the largest publicly traded corporations in the United States. We find that directors overwhelmingly believe that the CEO job is exceptionally challenging and only a handful of executives are qualified to run their company and others in their industry. This suggests that the labor market for outstanding CEO talent is significantly tighter and more competitive than governance experts might realize.
Keywords: board of directors, CEO labor market, CEO recruitment, CEO succession planning, corporate governance, internal talent development
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