Most New CEOs Come From Within

Are you looking for an outsider to become your new CEO and ignoring what you have in-house?

In a first-of-its-kind study conducted by Drake Beam Morin, more than eight out of 10 companies that recently changed leaders selected a replacement from their own management ranks (or from within the ranks of their merger partner). On average, only about one in seven major companies worldwide selects an ‘outsider’ to replace a departing CEO.

These companies have likely considered the many advantages of promoting from within, including the long history of company knowledge the in-house candidates possess.

SOURCE: Drake Beam Morin, which provides services in employee selection, development, retention and transition. Drake Beam Morin is a subsidiary of Harcourt, Inc.