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In search of a kingdom: Determinants of subsequent career outcomes for chief executives who are fired
Author(s) -
Ward Andrew,
Sonnenfeld Jeffrey A.,
Kimberly John R.
Publication year - 1995
Publication title -
human resource management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.888
H-Index - 94
eISSN - 1099-050X
pISSN - 0090-4848
DOI - 10.1002/hrm.3930340108
Subject(s) - sample (material) , demographic economics , compensation (psychology) , management , executive compensation , business , advisory committee , psychology , public relations , accounting , political science , economics , social psychology , chemistry , chromatography
Research on forced CEO succession has focused on determinants of exit, impact on the organization, or implications for the incoming CEO. Generally unexamined is what happens to the ousted CEO. Using a sample of 60 forced exits from the Business Week 1000 from 1988 to 1992, this study seeks to identify factors which influence the career outcomes for the ousted CEO. The study found that age matters—older CEOs were less likely to obtain other active executive positions, but were more likely than younger ousted CEOs to enter advisory roles. Further, the reason for the CEO's exit had a significant impact on the likelihood of subsequently assuming either an active or an advisory role. No relationship was found between career outcomes and the following: media coverage, levels of compensation at exit, board memberships. © 1995 by John Wiley & Sons, Inc.