Publication: New perspectives on CEO successions and other top positions within
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Date
2019-03-18
Authors
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Ortega Diego, Jaime (PRESIDENTE);
Hamori, Monika (SECRETARIO);
Ruíz Verdu, Pablo (VOCAL);
Berrone, Pascual (VOCAL)
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IE University
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Abstract
This dissertation presents three empirical studies aimed at providing a better understanding of CEO successions and some of the top leadership positions within the firm. The first study focuses on family ownership and its influence in CEO succession decisions. It argues and finds support that family firms’ CEO succession decisions will be driven by the family’s socioemotional wealth (SEW) preservation goals. Consequently, family firms engage in CEO successions differently from non-family firms. The second study focuses on the appointment of an interim-CEO and how it can lead to increased top management team (TMT) turnover. In addition, it focuses on the moderating effect of the Chairman in this context and how combining the positions may lessen TMT turnover. The final study focuses how CEOs can consolidate power by also holding both the President and Chair titles, known as CEO Plurality. It argues and finds support that Plural CEOs are related to greater CEO entrenchment; they are less likely to depart the firm in general and also during times of poor performance. However, powerful executives can prevent or cease CEO Plurality. Hypotheses were tested on a dataset of public, US firms in the Fortune 1,000 between the years 2000 and 2013. This contributes to management literature in several ways. By considering the role of family ownership in CEO successions this dissertation contributes to extant research on CEO successions in family firms by demonstrating that SEW goals guide succession decisions even when family firms look outside the family for their CEO. By investigating how an interim-CEO appointment may affect TMT turnover it provides further clarity about the consequences of appointing an interim-CEO. Finally, by examining how CEOs with multiple titles can entrench themselves in the position, this dissertation demonstrates how the consolidation of power is a real concern for firms.
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Attribution 4.0 International
School
IE Business School
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Citation
Baturone, R. L. (2019). Nuevas perspectivas sobre sucesiones del director del ejecutivo y otras posiciones principales dentro de la firma (Doctoral dissertation, Universidad SEK de Segovia).