Sharing insights from a CEO hiring specialist. This article focuses on CEO Hiring Trends 2024
60% of the Incoming CEOs Were Arrived CEOsOver the last 3 posts, we explored different facets of CEO Hiring in 2024. You can see the previous posts here - 'Post 3 link' 'Post 2 link' 'Post 1 link'
Do Indian firms prefer to hire someone who has prior CEO experience already under their belt? Or, do they give opportunity to those for whom this will be the first CEO role? Obviously, this will apply to those who are hired externally, as internal elevations are almost always first-time CEOs.
As the data shows, India Inc prefer to hire an experienced, 'arrived CEO' – fully 63% of the CEOs who joined last year from another firm, were already CEOs (1 or more stints). The surprise, if any, was that 37% were first-time CEOs even though they came from another firm.
Again, this is understandable – firms hire CEOs from outside when they want to go to the next orbit and it would make sense to hire someone with CEO experience under her/his belt, thereby reducing the number of variables at play.
However, we also know that in CEO hiring, industry/domain experience plays a significant role – so, if the ask is to hire an experienced CEO from the same/similar industry, how likely is that? We will explore in the next post.
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