“The CEO Experience Trap”

A growing number of companies recruit CEOs with a proven track record in the role.  According to a Booz & Company study of CEO succession at the world's biggest public companies, almost 20 percent of both incoming and departing CEOs at such companies in 2008 had had CEO experience at another corporation, almost twice the average percentage for the 11 years studied.

Companies resort to hiring prior CEOs because they are increasingly unwilling to take the risk of hiring executives with no previous job-specific experience.  They also .....