The Hero's Farewell

Více o knize

The process of replacing a chief executive is crucial for a company's future. If not managed well, it can lead to turmoil affecting not just the CEO but employees, shareholders, and the industry at large. Despite its importance, this pivotal moment in a company's history is often underexplored. Filled with insider stories and fresh perspectives, this work delves into the factors influencing executive succession, particularly the impact of a CEO's departure style on the power transfer. The author conducted candid interviews with fifty retired CEOs from major corporations, including AT&T and IBM, and surveyed an additional 300 top managers. He identifies four primary leadership departure styles: Monarchs, who do not leave voluntarily; Generals, who leave reluctantly while planning a comeback; Ambassadors, who maintain close ties with their former firms; and Governors, who willingly step down to pursue new interests. Understanding these styles can help CEOs and their companies prepare for transitions. Executive successions are challenging, especially as many leaders view retirement as a loss of purpose. However, some exit constructively, enabling a smooth transition. This exploration of the human drama behind these departures will engage those interested in corporate power dynamics and provide valuable insights for top executives and CEOs navigating these inevitable changes.