What Causes CEO Failure?
Yahoo has had six CEOs in five years. At HP one CEO lasted six months. According to some studies up to a third of Fortune 500 CEOs have lasted three years with top executive failure rates as high as 75 percent and rarely less than 30 percent. In a study by Booz. Consultants, CEO tenure today is 7.6 years on a global average down from 9.5 years in 1995. According to the Harvard Business Review, two out of five new CEOs fail in their first 18 months on the job. What is causing this and what can leaders do to avoid falling victim to missteps?