The Angst of Endangered CEOs: ‘How Much Time Do I Have?’
Investor impatience and new technologies and rival upstarts have made the top job tougher
Vanessa Fuhrmans, Joann S. Lublin
The Wall Street Journal article, “The Angst of Endangered CEOs: ‘How Much Time Do I Have?’” quoted Russell Reynolds Associates Consultant Constantine Alexandrakis about the challenges CEOs face in today's corporate environment. The article is excerpted below.
The bosses of America’s biggest and best-known companies are learning a common lesson this year: The pay is great, but job security has rarely been shakier.
In June alone, the chief executives of General Electric Co., Uber Technologies Inc., Whirlpool Corp., Buffalo Wild Wings Inc., Perrigo Co. and Pandora Media Inc. resigned or announced their departures. Among those, only Whirlpool’s Jim Fettig didn’t have to confront investor pressure in the months before stepping down.
Their exits follow an especially busy season of upheaval in corner offices. In the first five months of 2017, 13 companies with market values of more than $40 billion installed new CEOs—including American International Group Inc., Ford Motor Co.,and Caterpillar Inc. —according to an analysis for The Wall Street Journal by executive-recruitment firm Crist/Kolder Associates. That is more than double the CEO changes at mega-corporations in the same period last year.
“In boardrooms, sentimentality is officially dead,” said Constantine Alexandrakis, head of the U.S. for recruiting firm Russell Reynolds Associates Inc.
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