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CEOs In The News is a weekly intelligence briefing for senior leaders, boards, and those shaping the future of business. Each edition curates the most important executive moves, corporate shifts, and leadership trends — with clear insights on why they matter.

Our mission is simple: deliver clarity, signal, and strategic perspective in minutes — so you start the week one step ahead of the boardroom narrative.

The past week has been marked by significant leadership changes across various sectors, reflecting both long-term succession planning and abrupt strategic shifts. In a major move within the insurance industry, Berkshire Hathaway (BRK.A) announced the appointment of Nancy L. Pierce as the new CEO of its subsidiary, GEICO. Pierce, who previously served as the company’s Chief Operating Officer, steps into the top role effective immediately, a move seen as a testament to the conglomerate’s deep bench of internal talent [1]. Elsewhere in the financial world, Nedbank Private Wealth strengthened its board with three new non-executive directors, including Mike Davis, the current CFO of the parent Nedbank Group, signaling a focus on enhanced governance and financial oversight [2].

The technology and services sectors also saw considerable movement. TeamLease Services, a prominent staffing firm, named Suparna Mitra as its new Managing Director and CEO, succeeding Ashok Reddy in a transition described as part of the company’s long-term succession strategy [3]. In the software space, a significant C-suite shakeup at Asana (ASAN) saw both COO Anne Raimondi and General Counsel Eleanor Lacey resign on the same day, marking a complete turnover of top leadership in just over a year and raising questions about the company’s future direction [4].

Several transitions were driven by strategic realignments and the pursuit of new growth opportunities. FNBC, a community bank, announced that its current President, Chad Hudson, will ascend to the CEO position on January 1, 2026, the culmination of a multi-year succession plan designed to ensure a seamless handover [5]. In the energy sector, MAX Power accelerated the start date for its new CEO, Ran Narayanasamy, to align with the mobilization of service rigs at its Lawson property, a clear indication of the urgency to execute on its operational goals [6]. The healthcare diagnostics firm Boule Diagnostics announced the departure of its CEO, Torben Nielsen, who is leaving to pursue other professional opportunities, prompting a search for a new leader to guide its next phase of strategic growth [7].

Finally, in a move that underscores the pressures on retail leadership, Red Robin (RRGB) appointed former Bloomin’ Brands executive Christopher Meyer as its interim CFO, highlighting the ongoing challenges and leadership churn within the restaurant industry [8]. At the media giant iHeartMedia, Michael McGuinness was promoted from Executive Vice President and Deputy CFO to the top financial seat, effective January 1, replacing the outgoing CFO/COO who relinquished finance chief responsibilities [9]. Meanwhile, Dollar Tree (DLTR) named Mike Creedon Jr. as its new CEO in December 2024, elevating him from his previous role as Chief Operating Officer [10].

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The data reveals a compelling narrative: 2024 has been a record-breaking year for CEO departures across U.S. companies, with strategic failures and immense pressure from activist investors serving as primary catalysts [11] [12]. According to data from Challenger, Gray & Christmas, 1,760 CEOs had left their posts through October 2024, and the first half of 2025 has already seen 1,235 exits, a stunning 12% increase from the same period in 2024 [13]. This trend suggests that boards are adopting a “fail fast” approach; if a leader cannot demonstrate measurable progress and growth, shareholder confidence quickly erodes, leading to swift changes at the top.

Spencer Stuart’s 2024 CEO Transitions report provides further granularity, showing that while overall transitions in the S&P 1500 remain below pre-pandemic levels, they have ticked up to 147 in 2024 from 136 in 2023 [14]. A striking trend is the dramatic surge in the appointment of external CEOs, which reached 44% in 2024—the highest level since the year 2000. This shift is particularly pronounced in mid-cap companies, where 58% of new CEOs were hired from the outside. This suggests that boards are increasingly prioritizing proven experience and are willing to look beyond their own ranks to find leaders who can navigate today’s complex challenges, especially during times of crisis or when a significant change in strategic direction is required.

The industries experiencing the most CEO turnover include the consumer and industrial sectors, both posting 12% turnover rates, while financial services and technology/media/telecom sectors saw the lowest turnover at 7% [14]. This divergence reflects the varying performance pressures across different industries, with boards in underperforming sectors more willing to intervene and make leadership changes.

The current landscape of CEO transitions offers a modern parallel to some of the most significant leadership case studies in corporate history. The successful turnaround of IBM (IBM) under Lou Gerstner in the 1990s remains a seminal example of an outsider CEO reviving a struggling behemoth. Gerstner, who came from outside the tech industry, famously declared, “the last thing IBM needs right now is a vision,” and instead focused relentlessly on execution, customer needs, and cultural transformation to pull the company back from the brink of collapse [15]. His story underscores the immense value that an external perspective can bring, a lesson that many boards seem to be embracing today, as evidenced by the rising tide of outsider appointments.

In stark contrast, the story of General Electric (GE) under Jeff Immelt serves as a cautionary tale about the perils of a flawed succession process and the failure to adapt to a changing world. Immelt, who succeeded the legendary Jack Welch, inherited a company that appeared invincible but was later revealed to have deep-seated structural problems. His tenure was marked by a series of strategic missteps and a failure to grapple with the legacy of his predecessor, ultimately leading to a catastrophic decline in the company’s value [16]. The GE saga highlights the critical importance of a robust and objective succession planning process, one that is not swayed by sentiment or the shadow of a larger-than-life predecessor.

As boards navigate the current wave of CEO turnover, these historical precedents offer invaluable, albeit contrasting, lessons in leadership, strategy, and governance. The key takeaway is clear: boards must be willing to make difficult decisions, seek external perspectives when internal candidates are not ready, and ensure that succession planning is a continuous, strategic process rather than a reactive response to crisis.

Two practical takeaways emerge for boards and aspiring leaders from this week’s analysis:

First, the surge in external CEO appointments underscores the growing premium on proven experience and adaptability. Boards are signaling a lower tolerance for risk and a greater willingness to seek leaders who have successfully navigated similar challenges elsewhere. For internal candidates, this means that simply rising through the ranks is no longer enough; they must actively seek out diverse experiences and demonstrate a capacity for leadership that transcends their functional expertise. The data shows that 21% of incoming S&P 1500 CEOs in 2024 previously served as a public company CEO, an increase of 8 percentage points in three years [14]. This trend toward “experienced CEOs” is particularly pronounced in healthcare and technology sectors, where regulatory complexity and rapid innovation demand battle-tested leaders.

Second, the increasing pace of CEO turnover highlights the critical need for continuous and dynamic succession planning. The most effective companies treat succession not as a periodic event, but as an ongoing process that is deeply integrated with strategy, risk management, and talent development [17]. Research from RHR International suggests that the best companies start planning the next CEO’s development the moment a new one takes the job, treating succession as a form of risk management [18]. This proactive approach ensures that boards always have a pipeline of ready candidates and are not caught off guard when a CEO departure becomes necessary.

The past year has been unforgiving for leaders who failed to deliver. The abrupt departure of Pat Gelsinger from Intel (INTC) in December 2024, following board dissatisfaction with his turnaround strategy, serves as a prime example [19]. Gelsinger, who had implemented mass layoffs just four months before being ousted, was given the option to retire or be removed, ultimately stepping down effective December 1, 2024. The board’s loss of confidence in his ability to execute on the company’s transformation underscores the immense pressure on leaders to deliver results quickly in today’s environment.

Similarly, Carlos Tavares was ousted as CEO of Stellantis (STLA) due to the company’s poor performance in the U.S. market and a failure to execute on its electric vehicle strategy [20]. His resignation, effective immediately on December 1, 2024, came as the company faced mounting criticism for weak sales and strategic missteps. The turmoil at Boeing (BA), which saw CEO Dave Calhoun step down amid a safety crisis and intense scrutiny, further illustrates the immense pressure on leaders of large, complex organizations [21]. Calhoun’s compensation of $32.8 million was questioned during a Senate hearing, highlighting the disconnect between executive pay and performance.

In a more unusual case, Andy Byron, CEO of AI company Astronomer, resigned in July 2024 after being caught on a “kiss cam” at a Coldplay concert in what appeared to be an inappropriate relationship with the company’s HR chief, Kristin Cabot [22]. Both executives subsequently resigned, demonstrating that leadership failures can stem from personal conduct as well as strategic missteps.

The leadership reshuffle has created a number of high-stakes opportunities in the C-suite. Among the most prominent openings are:

CEO Positions: - Intel (INTC): Following Pat Gelsinger’s departure, the semiconductor giant is searching for a new CEO to lead its turnaround and compete in the AI chip market. - Stellantis (STLA): The automotive conglomerate needs a new CEO to reverse poor U.S. performance and execute on its EV strategy. - Boule Diagnostics: The healthcare diagnostics firm is seeking a new CEO following Torben Nielsen’s departure.

CFO and Other C-Suite Roles: - Red Robin (RRGB): The restaurant chain has an interim CFO and may be searching for a permanent finance chief. - Asana (ASAN): With both the COO and General Counsel positions now vacant, the company needs to rebuild its entire C-suite. - iHeartMedia: While Michael McGuinness has been promoted to CFO, the company may need to fill the Deputy CFO role.

These vacancies represent significant opportunities for leaders with the right skills and experience to make a substantial impact. The premium on experienced CEOs means that candidates with prior CEO experience or divisional leadership roles will be particularly sought after.

Several major companies are facing significant succession risks that warrant close attention:

Walmart (WMT): The impending retirement of Doug McMillon in early 2026, while part of a planned transition, places immense pressure on his successor, John Furner, to maintain the retail giant’s momentum [23]. Furner, who currently serves as Walmart U.S. CEO and was once an hourly worker, will helm the top company in the Fortune 500. The succession is being closely watched, with Kath McLay, President and CEO of Walmart International, also considered a top contender for future leadership roles.

Asana (ASAN): With its entire C-suite now vacant following the departure of the COO and General Counsel, the company presents a critical test for the board to recruit a new leadership team capable of stabilizing the company and charting a path forward. The complete turnover in just over a year raises concerns about the company’s culture and strategic direction.

Boeing (BA): The ongoing challenges at Boeing, even with new CEO Kelly Ortberg in place since August 2024, suggest that the company’s leadership will remain under intense scrutiny for the foreseeable future. The company faces a slow-moving turnaround following safety crises, leadership churn, and union battles.

Consumer and Industrial Sectors: The high rate of turnover in these sectors (12%) suggests that other companies may be facing similar leadership challenges and succession risks. Boards in these industries should be particularly vigilant about succession planning and leadership development.

The data and events of the past week paint a clear picture: the role of the CEO has never been more demanding, and the consequences of failure have never been more immediate. Boards are responding with a new sense of urgency, prioritizing experience and adaptability in their search for leaders who can thrive in an environment of constant disruption. The surge in external appointments, the record pace of CEO turnover, and the high-profile failures of once-celebrated leaders all point to a fundamental shift in how companies approach leadership.

As the great leadership reshuffle continues to unfold, the ability to effectively manage CEO succession will be a defining characteristic of the companies that succeed in the years to come. The lessons from IBM’s turnaround under Lou Gerstner and GE’s decline under Jeff Immelt remain as relevant today as ever: boards must be willing to make tough decisions, seek external perspectives when necessary, and ensure that succession planning is a continuous, strategic imperative rather than a reactive afterthought.

CEOs In The News is published weekly for an audience earning $300K to $10MM. It’s intended for educational use to empower executives for the ongoing week. For executive search inquiries, executive branding needs, board advisory services, or newsletter feedback, contact our editorial team. The opinions in this newsletter are not that of its sponsors.

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