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7 Powerful Ways Modern CEOs Are Revolutionizing 🚀 Leadership
Russell Reynolds Associates introduced the Global CEO Turnover Index Annual Report in 2024. As always, I've extracted the key insights for you:
1. After a year of widespread elections, the global landscape is marked by historic change & volatility. Rapid technological, environmental, & regulatory transformations are increasing scrutiny & pressure
2. 2024 saw significant change with nearly half the world's population involved in elections! CEO turnover hit a record high with 202 departures, a 9% increase from 2023. The S&P Global had 58 CEO departures, a 21% rise. RRA attributes this to increased scrutiny & detailed succession processes & activist investors
3. 2024 showed positive trends for gender parity in CEO tenure. Despite some progress, achieving gender parity remains a long journey. The gap has decreased from 81 years to 72.5 years
4. The technology sector saw a 90% CEO turnover!!! in 2024 driven by Gen AI & digital infrastructure investment. Rising performance expectations & interest rates led to more CEO appointments, especially in privately held software markets
5. 2024 also saw a rise in planned CEO successions, with 22% of departures due to succession planning, up 13% from the previous year. This led to fewer CEO removals, dropping to 14%. Long-term succession planning has driven more internal promotions, with 73% of new CEOs coming from within. Boards favor internal candidates to reduce risk & ensure continuity. The trend for 1st time CEOs continues, with 85% of new appointments being individuals without prior CEO experience
📣 How do you support your incoming CEOs? Here's what a recent 1st time CEO client of mine said:
💬 “I had the privilege of working with Navid Nazemian during a pivotal time in my career. Navid's executive coaching was instrumental in helping me navigate the complexities of transitioning between organizations & taking on new leadership roles. Most recently, he supported me to take on my first CEO role. Navid's support was crucial in overcoming challenges & understanding my own strengths, motivations & dark side traits. His coaching not only impacted my professional life but also had significant positive implications for my family. Throughout our journey, Navid's dedication & expertise as a CEO Transition Coach were evident. He helped me tap into valuable & succinct resources and provided me with valuable insights to re-define our organisational strategy & establish this appropriately with the board of directors. Navid’s ability to add long-lasting value & his commitment to our relationship are truly remarkable. I am deeply grateful for Navid's coaching, which has been a transformative experience. His support has been a cornerstone in my executive career development, & I look forward to continuing our connection in the future”
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