WHEN SENIOR executives voluntarily or forcibly leave their positions
”for personal reasons,” what does that really mean?
According to a recent survey conducted by Hodge-Cronin & Associates Inc., it generally means there were philosophical differences between the executive and his or her superior or board of directors.
Hodge-Cronin, a Rosemont-based executive search firm, surveyed more than 800 chief executive officers in all major industry segments, asking just one question: ”In your opinion, why do senior executives leave their positions?”
Lack of harmony in the executive suite was the most cited answer. The second reason: lack of challenge or boredom. Third: another offer too good to refuse.
RICHARD J. Cronin, president of Hodge-Cronin, says the executives surveyed described the disharmony in the executive suite in a variety of ways, including personality conflicts, poor fit with the company`s culture and changes forced upon the executive.
He says that however they are expressed, the philosophical differences lead to the same result: When harmony is lacking in the executive suite, the executive in the most senior position usually stays.
”Companies, for the most part, aren`t democratic institutions,” Cronin said. ”There is one boss, and if he is competent and has a successful track record, what he or she says goes. If others disagree, they go.”
