Managing Director Peter Thies was quoted in the Agenda article, “Boards Find CEO Change ‘Too Risky’ Now as Exodus Recedes."
The flood wave of CEO exits over the past two years may be receding thanks to the volatile business environment. Chief execs appear to be staying on longer to help maneuver their companies through turbulence.
Similarly, some boards are giving CEOs more leeway to make short-term mistakes to focus on stabilizing C-suites, sources told Agenda.
"When it's an uncertain social political climate, an uncertain geopolitical climate, an uncertain impact of AI ... there's so many things that make this version of [volatility, uncertainty, complexity and ambiguity] even more ambiguous," said Peter Thies, managing director at Pearl Meyer.
"You're likely to not, as a board, introduce change at the CEO level amidst all of that. It's too risky right now."
But risk management doesn't account for all the newfound retention, sources said. Data suggests some boards may have run out of options and are sticking with the leader they have on hand due to poor succession planning.