{"id":1901,"date":"2021-04-08T13:48:00","date_gmt":"2021-04-08T12:48:00","guid":{"rendered":"https:\/\/www.theofficialboard.com\/best-articles\/?p=1901"},"modified":"2021-04-08T13:48:00","modified_gmt":"2021-04-08T12:48:00","slug":"crisis-put-ceo-successions-on-hold-in-2020-expect-a-rebound-in-2021","status":"publish","type":"post","link":"https:\/\/www.theofficialboard.com\/best-articles\/2021-03\/crisis-put-ceo-successions-on-hold-in-2020-expect-a-rebound-in-2021\/","title":{"rendered":"Crisis Put CEO Successions on Hold in 2020. Expect a Rebound in 2021."},"content":{"rendered":"\n<p class=\"has-text-align-center\"><a href=\"https:\/\/www.spencerstuart.com\/research-and-insight\/crisis-put-ceo-successions-on-hold-in-2020\">Viewed in <em>Spencer Stuart<\/em><\/a><\/p>\n\n\n\n<p>As the Covid-19 pandemic enters its second year, one thing is abundantly clear: Not much is moving quickly, and much has slowed down. <\/p>\n\n\n\n<p>The traditional office environment has been disrupted, and so have the traditional business processes, including succession for corporate chief executives. <\/p>\n\n\n\n<h5 class=\"wp-block-heading\">CEO transitions fell in 2020<\/h5>\n\n\n\n<p>In this report from global executive search giant Spencer Stuart, the statistics prove the point. \u201cGlobally, CEO transitions fell 42 percent between the first and second halves (of 2020) as the economic strain of the Covid-19 pandemic intensified,\u201d it finds.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">A typical phenomenon during recessions<\/h5>\n\n\n\n<p>As disruptive as this development may be, it is not at all unprecedented, Spencer Stuart reports. In the past three recessions, for instance, the same phenomenon occurred with corporations postponing their CEO succession plans.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Steepest decline in Asia<\/h5>\n\n\n\n<p>Since the pandemic\u2019s early 2020 onset, companies in some global regions have been hit harder than others.\u00a0 \u201cAsia experienced the steepest decline in CEO transitions during 2020, down 23 percent compared with 2018-19 average,\u201d the search firm reports. <\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Steepest decline in technology in the US<\/h5>\n\n\n\n<p>Not surprisingly, there is a direct correlation between the industries most impacted by the pandemic and the delay of CEO successions. In Asia, that proved to be industrial goods, consumer goods, and services. In Europe, it was the healthcare industry. In the United States, it was the technology sector.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">30 percent above pre-crisis levels in 2022 <\/h5>\n\n\n\n<p>Good news, however, does appear on the horizon, Spencer Stuart found. \u201cCEO transitions tend to rebound as uncertainty wanes, often spiking two years after the depth of a crisis\u2026If historical patterns repeat, transitions in 2022 could spike as much as much as 30 percent above pre-crisis levels,\u201d the firm predicts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Viewed in Spencer Stuart As the Covid-19 pandemic enters its second year, one thing is abundantly clear: Not much is moving quickly, and much has slowed down. The traditional office environment has been disrupted, and so have the traditional business processes, including succession for corporate chief executives. CEO transitions fell in 2020 In this report&#8230; <a class=\"continue-reading-link\" href=\"https:\/\/www.theofficialboard.com\/best-articles\/2021-03\/crisis-put-ceo-successions-on-hold-in-2020-expect-a-rebound-in-2021\/\">More<\/a><\/p>\n<a href=\"https:\/\/www.theofficialboard.com\/best-articles\/2021-03\/crisis-put-ceo-successions-on-hold-in-2020-expect-a-rebound-in-2021\/\">Read more...<\/a>","protected":false},"author":1,"featured_media":1559,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[290],"tags":[151,209,156,141],"class_list":["post-1901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2021-03","tag-ceo","tag-headhunter","tag-spencer-stuart","tag-transition"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Crisis Put CEO Successions on Hold in 2020. 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