A recent study surveying 2,500 of the world’s largest public companies, covering all industry sectors, reported 14.4% CEO turnover (the 5-year average stands at 13.9%) – in comparison, our 2013 study of the hotel sector revealed turnover of 10.0% and a 5-year average of 10.8%.
Notably, changes in leadership within the hospitality industry have predominantly been planned as opposed to being forced or as a result of death or illness. Over the last 10 years just shy of 60% of CEO movement was the result of considered forward-thinking planning by the board. Yet, we have seen a slight increase in the numbers of forced CEO exits – it appears, especially in Europe, public companies’ shareholders have been quick to demand change in the face of adversity. It will be interesting to see whether this is just a reflection of the relatively uncertain economic environment of the past three to four years or it there is a change of mentality.
The following paragraphs look at the past 10 years and the changes that the hospitality industry has seen at CEO-level – where do they come from, what sets them apart and what are their qualifications….? Step-by-step, the following pages will paint a picture of our industry CEOs and profile the individuals who are leading the hotel sector around the world.
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