An increasing number of CEOs are deciding to leave their posts on their own terms in the wake of COVID-19, for factors ranging from burnout to wanting to move on to the next stage of their careers and lives. Others are simply coming to the end of their agreed-upon term in office. Most want to minimize disruption to the company and preserve a positive legacy, but best practices on how to navigate the last 100 days of a CEO’s tenure are an under-researched topic. Beyond the first step of the CEO and board agreeing to an orderly transition, including timing and financial terms, how should the CEOs and boards proceed?
A CEO’s last 100 days typically can be divided into three phases: preannouncement, when only the CEO, chair, and board are aware of the planned departure; a post-announcement phase, when the departure has been announced but the business carries on much as before; and a pre-transition period, when a successor has been picked but is not yet in office.
How an organization and individuals manage these phases is crucial to an effective transition and continued momentum for the organization. Get it wrong, and the dislocation from one leader to the next increases the risk of organizational disruption. For the departing CEO, reputation and business relationships are valuable assets to take on to the next stage of a career. But for many, the motivation is primarily emotional: a desire to make a success of the last chapter of their service to an institution, its people, and its customers.
This story is from the Fall 2022 edition of MIT Sloan Management Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the Fall 2022 edition of MIT Sloan Management Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
The Trouble With Your Innovation Contests
Not all innovation contests should be winner-takes-all or judged by senior executives. New research shows how to structure contests to meet specific goals.
Scaling Automation: Two Proven Paths to Success
Lessons from two leading hospital systems show how to overcome the obstacles to automation.
How Tech Fails Late-Career Workers
Managers must make deliberate choices to support older workers' use of complex technologies.
Building Culture From the Middle Out
Midlevel leaders are critical to fostering an organizational culture that’s healthy and vibrant.
Why Manufacturers Need a Phased Approach to Digital Transformation
Those that succeed with this difficult work break it into three stages, each with its own guiding metrics.
Will Large Language Models Really Change How Work Is Done?
Even as organizations adopt increasingly powerful LLMs, they will find it difficult to shed their reliance on humans.
How to Make Better Friends at Work
Friendships in the workplace can enrich our lives and make us better leaders and workers if we make the effort to cultivate truly healthy relationships.
Health Care Platforms Need a Strategy Overhaul
To succeed, digital health platforms must shift their approach in three key areas.
Steer Clear of Corporate Venture Capital Pitfalls
Big companies and risk capital can be awkward partners. Here’s how to get corporate venturing right.
New Markets, New Opportunities: Identifying Where and How to Make Your Play
How do leaders determine whether to build a new business around a promising new technology?
