These days CEOs need to achieve results faster than ever before. The expectation is greater. Tenure is shorter.
In an isolated role, you need feedback and counsel from those who have a deep appreciation of what it feels like to be CEO.
Yet, complacency by Boards is common. Many are just unprepared for managing CEO succession.
When unprepared, they tend to hire from outside. But, over the long-term, insider CEOs provide higher shareholder returns.
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