In comparison, our 2013 study of the hotel sector revealed turnover of 10.0% and a 5-year average of 10.8%.
Notably, changes in leadership within the hospitality industry have predominantly been planned as opposed to being forced or as a result of death or illness. Over the last 10 years just shy of 60% of CEO movement was the result of considered forward-thinking planning by the board.
Yet, we have seen a slight increase in the numbers of forced CEO exits – it appears, especially in Europe, public companies’ shareholders have been quick to demand change in the face of diversity. It will be interesting to see whether this is just a reflection of the relatively uncertain economic environment of the past three to four years or it there is a change of mentality.
Read more: HospitalityNet