“Succession is being used almost as a defensive governance tool, which means that boards are proactively replacing the CEOs.”
Evan Grossman, Managing Director and Head of the CEO and Board Practices, spoke to Agenda about the recent excessive CEO turnover rate. Boards are replacing even successful CEOs when their companies face challenges like slow growth, low margins, or stalled AI initiatives to preempt activism and demonstrate willingness to make ruthless leadership decisions for the company’s next chapter.