Who are our Leaders? A Study of CEO Succession in the UK FTSE 350 Companies

Abstract

This study considers the implications for the future of the publicly traded corporation in terms of its leadership talent pipeline by considering the questions of succession, age and tenure, and recruitment of CEOs. It shows that the majority of 350 CEOs were recruited internally on the basis of similarity-attraction, ageing, having been in the role for over six years and close to retirement. They tend to be replaced by successors with similar age profile and recruitment characteristics and an implied tendency to longevity of tenure. The study questions the future talent pipeline due to the predominance of a rapidly ageing group of current leaders.