Incoming chief executives have a lot to learn, which is why so many of them don't last very long.
There's heavy turnover in the C-suite these days. The latest CEO transition came this week, when Robert McDonald was named the new CEO of $84 billion Procter & Gamble, the successor to nine-year chief A.G. Lafley, who will step down July 1.
The announcement at one of the country's oldest and best-regarded companies was most notable for its lack of drama. It was that rare event in business: a CEO transition that drew kudos rather than anxious selling. "The real story here is the non-story," says author and management guru Jim Collins. "This reflects the way things should work."
The relative lack of ripples is all the more unusual in a treacherous environment in which CEOs are getting the boot on a regular basis: 115 departures in May alone, according to outplacement firm Challenger, Gray & Christmas.
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