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Strategic LeadershipTheory and Research on Executives, Top Management Teams, and Boards$
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Bert Cannella, Sydney Finkelstein, and Donald C. Hambrick

Print publication date: 2008

Print ISBN-13: 9780195162073

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780195162073.001.0001

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Changes at the Top: The Antecedents of Executive Turnover and Succession

Changes at the Top: The Antecedents of Executive Turnover and Succession

Chapter:
(p.164) 6 Changes at the Top: The Antecedents of Executive Turnover and Succession
Source:
Strategic Leadership
Author(s):

Sydney Finkelstein (Contributor Webpage)

Donald C. Hambrick (Contributor Webpage)

Albert A. Cannella

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195162073.003.0006

This chapter begins with a broad introduction to the concept of CEO succession. In the first major section, it discusses the drivers of executive succession, focusing on several important antecedents of succession such as organizational performance, agency conditions, organizational characteristics, the environment, and predecessor characteristics. Much of the discussion of antecedents emphasizes involuntary turnover or dismissal. In the second section, the chapter focuses on the dynamics of the CEO succession process, analyzing types of succession and the influence of the incumbent CEO versus the board of directors. The final section assesses the question of who will be selected. Topics here include insider versus outsider selection and the broader issues of continuity versus change.

Keywords:   CEO succession, relay succession, horse race succession, insider CEO succession, outsider CEO succession, succession processes

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