Categories: Daily Best of the Web

8 Ways Rookie CEOs Can Turn Failure Into Success

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

Chief Executive

Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.