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The Hero’s FarewellWhat Happens When CEOs Retire$
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Jeffrey Sonnenfeld

Print publication date: 1991

Print ISBN-13: 9780195065831

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780195065831.001.0001

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The Governor's Departure

The Governor's Departure

Chapter:
(p.183) 9 The Governor's Departure
Source:
The Hero’s Farewell
Author(s):

Jeffrey Sonnenfeld

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195065831.003.0009

Governors rule for a limited term of office, then shift to other vocational outlets entirely after retirement. Despite their fairly graceful exits, the governors maintain very little ongoing contact with their firm once they have left. Retirement for them is often merely a career change as they turn to pursue outside interests. This chapter observes three common routes taken by departing governors: public service, starting of new enterprises, and turnaround challenges. As with the cases of leaders exemplifying a governor's exit in this chapter, governors have frequently built strong teams of successors and look with pride on the continuity of command. Unlike ambassadors, the entrepreneurial governors know they can re-create their old successes in a new situation. Looking at the data from consistent surveys, the chapter illustrates several factors that stand out about a governor's departure.

Keywords:   governors, retirement, career change, public service, new enterprises, turnaround challenges, successors

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