According to PwC, CEO turnover in the U.S. in 2018 was 17.5%, the highest rate in recorded history.  After a slowdown in turnover throughout the early stages of the pandemic, when companies and sponsors opted for stability over change of any kind, CEO turnover has increased dramatically in recent months, according to Forbes.  So, do the math.  There are over 80% odds that a CEO will fail and be replaced in the next five years.

Why the increasing turnover?  With cash now an economic commodity, talent and results are what distinguish winners from losers.  Companies, especially those backed by institutional investors, hire for talent and expect results.  When results disappoint, they act quickly to replace the talent.  And this is especially the case in the tech world where conditions change by the minute, and no one can afford to delay in pursuing an opportunity. 

What can you do to ensure your place among the winners in this extraordinarily challenging business environment?  Just like elite athletes and athletic teams rely on a cadre of support (e.g., conditioning coaches, mindset coaches, nutritional coaches, strategic analysts, statistical analysts, scouts), CEOs need their own cadres of support. And, although they don’t like to advertise it, the best and most successful CEOs of the best companies have their own support networks.  They have executive coaches (in fact, 2/3 of CEOs have at least one), strategic and operational advisors, fractional executives to assist in specific areas, team building advisors, among others.  As team leaders, they assemble the support to ensure, or at least heavily tilt the odds toward, success.  They refuse to allow their expectations to be undermined by inadequate capabilities.