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This weekly newsletter shares leadership insights, strategies and actionable steps for senior leaders and aspiring ones.
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Spencer Stuart has recently published their 2023 CEO Transition data for Europe and the US. As always, I've done the reading & summarizing on your behalf, so you can save your most precious asset, namely your time : |
In 2023, CEO transitions have shown distinct trends across Europe and the United States, reflecting the unique challenges and opportunities in each region.
Coverage: The report covers CEO transitions in major European stock indices + the S&P 500, S&P MidCap 400, & S&P SmallCap 600
# of Transitions
Europe: 39 CEO transitions across 354 companies
US: 136 CEO transitions across the S&P
Gender Diversity
Europe: 5 out of 39 CEOs appointed were women (13%)
US: Gender diversity data not explicitly provided
Other Trends and Observations
Europe: CEO transitions have bounced back to pre-pandemic levels. The highest turnover was in the UK (17%), while Belgium had no permanent transitions
US: Transitions have not returned to pre-pandemic levels. The average age of incoming CEOs is two years older than in 2022, and nearly 20% of new S&P 500 CEOs had previous CEO experience
Europe: The highest proportion of transitions occurred in the TMTS sector, while the most actual transitions happened in industrial companies
US: Boards are increasingly valuing attributes like strategic thinking, agility, and empathy in new CEOs
#Boards are prioritizing strategic thinking, agility, and empathy in new CEOs to navigate complex business challenges.
In summary: Both regions are navigating the post-pandemic landscape with unique strategies and priorities. In Europe, the focus is on bouncing back and leveraging sector-specific strengths, while in the U.S., thereâs a clear shift towards experienced leadership and adaptive capabilities.
As we move forward, understanding these trends can help boards and executives make informed decisions to drive their organizations towards success.
BTW: Did you know that one of the most effective ways of supporting incoming CEOs is through targeted transition coaching?
But don't take my word for it, take it from a recent CEO client of mine:
âI want to take this opportunity to express my gratitude for your support and coaching in my development as a CEO. Your coaching has helped me to define a clear vision for our company, develop a strategic plan for my team, and enhance my self-awareness substantially. The coaching has been crucial in my journey to become a more effective leader. Your coaching not only helped me navigate the initial transition challenges but also empowered me to make impactful decisions that align with our long-term goals. Iâd like to thank you for your invaluable support.â
About Navid Nazemian
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nsitions.com if you have a need for coaching, keynote speaking or would like to place a bulk book order for your organisation - Buy my international best-selling book 'Mastering Executive Transitions: The Definitive Guide'
Dr. Hannes Ametsreiter says it âprovides brilliant insights on what makes successful careers.â
