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Research Details
Who Shall Succeed? How CEO/Board Preferences and Power Affect the Choice of New CEOs, Academy of Management Journal
Abstract
Who Shall Succeed? How CEO/Board Preferences and Power Affect the Choice of New CEOs Edward J. Zajac and James D. Westphal, Academy of Management Journal, January 1996, Vol. 39, No.1, 64-90 This study shows how social psychological and sociopolitical factors can create divergence in the preferences of an incumbent CEO and existing board regarding the desired characteristics of a new CEO, and how relative CEO/board power can predict whose preferences are realized. Using extensive longitudinal data, we found that more powerful boards are more likely to change CEO characteristics in the direction of their own demographic profile. Outside successors are also typically demographically different from their CEO predecessors but demographically similar to the boards.
Type
Article
Author(s)
Edward Zajac, James D. Westphal
Date Published
1996
Citations
Zajac, Edward, and James D. Westphal. 1996. Who Shall Succeed? How CEO/Board Preferences and Power Affect the Choice of New CEOs. Academy of Management Journal. 39(1): 64-90.
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