In this fast-paced world dominated by career mobility and misaligned incentives, as "companies are dealing with uncertainty in the markets, disruptions in technology, or fallout from impending tariffs. Regardless of the reason, boards need strong talent with specific skill-sets," said Andrew Challenger, Vice President of Challenger, Gray & Christmas, Inc., a global outplacement consultancy.
Should something like the 2008 crisis happen again, even on a regional level, experience matters. Quigley agrees, "I think there’s an argument to be made for keeping the steady hand at the helm in rough seas."
Needless to say, Warren Buffetts are a rarity.
METHODOLOGY: CEO tenure are as of 8/31/2018. Only included tenure as chief executive officer or equivalent position for the currently associated company, since most recent appointment. Data is then supplemented by extrapolating years at current helm since last known documented mention of the CEO post. More than 6,800 companies benchmarked to 80 primary regional equity indexes were researched. Final output included markets with tenure data for more than 75% of the index members or at least 20 member stocks. Tenure data for dual listed firms were included in both markets’ entries.
This article was provided by Bloomberg News.