According to an article in The Wall Street Journal citing research from Strategy& (formerly Booz & Co.), about 76 percent of top CEOs departing for any reason last year were rookies, up from 58 percent in 2011.
Why do so many rookie CEOs fail? I believe the biggest reason is that the CEO role is 180 degrees different than any other executive role. A CFO or vice president of sales, for example, has deep expertise in his or her functional area and is used to being the master of his or her domain. A rookie CEO is confronted with an array of issues in areas in which he or she has no expertise.
What then are the keys to being successful as a rookie CEO? Here are eight ways these newbies can set themselves up for success from Day 1.
Read more: Entrepreneur