Last dance or second chance? Firm performance, CEO career horizon, and the separation of board leadership roles

In recent years, many firms have chosen to separate their CEO and board chair positions. Prior research has demonstrated that there are three forms that a CEO—board chair separation can take: apprentice, departure, and demotion. In this paper, we examine the antecedents of these three types. Our res...

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Vydáno v:Strategic management journal Ročník 35; číslo 6; s. 808 - 825
Hlavní autoři: Krause, Ryan, Semadeni, Matthew
Médium: Journal Article
Jazyk:angličtina
Vydáno: Chichester, UK John Wiley & Sons, Ltd 01.06.2014
John Wiley & Sons
Wiley Periodicals Inc
Témata:
Age
Apprentices
Apprenticeships
board composition
board leadership
Boards of directors
Business entities
Business management
Careers
CEO career horizon
CEO succession
Chief executive officers
Corporate governance
Corporate strategies
Dance
Decision analysis
Demotion
Economic performance
Employee demotion
Financial performance
Independence
Interdependence
Leadership
Management science
Occupations
Organizational effectiveness
Organizational performance
Research methods
Risk aversion
Strategic management
Studies
ISSN:0143-2095, 1097-0266
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Shrnutí:In recent years, many firms have chosen to separate their CEO and board chair positions. Prior research has demonstrated that there are three forms that a CEO—board chair separation can take: apprentice, departure, and demotion. In this paper, we examine the antecedents of these three types. Our results show that the three types of separation each have different profiles in terms of the prior performance of the firm, the independence of the board, and the career horizon of the incumbent CEO. The findings in this paper provide unique insights into the factors that drive boards' structural choices. As questions about board leadership structure become more nuanced and more relevant in both scholarship and practice, a full understanding of these factors will only become more important.
Bibliografie:ark:/67375/WNG-7080HFM9-F
ArticleID:SMJ2139
istex:54022EE98847B8FB357BB8C571F57745C5A4A77F
SourceType-Scholarly Journals-1
ObjectType-Feature-1
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ISSN:0143-2095
1097-0266
DOI:10.1002/smj.2139