New research on CEO succession featured in Forbes
New research examining CEO succession has gained international attention, with findings recently cited in Forbes.
The study, titled “Wrinkle of Change? The Reproduction of Executive Age Profiles Across CEO Succession Episodes,” was published in the leading journal Human Relations (A*, FT50). It explores whether leadership transitions at the highest level genuinely reshape organisational direction.
Analysing 391 CEO succession events across 297 S&P 500 firms between 2000 and 2020, the research finds that organisations tend to replicate familiar executive profiles rather than use succession as a catalyst for meaningful change. Notably, this pattern persists even when companies appoint external candidates as CEOs.
The findings were highlighted in an April 2026 Forbes article, “Why CEO Succession Rarely Delivers Actual Change,” by Benjamin Laker. The article draws on the research to argue that boards often prioritise continuity and familiarity over transformation when selecting new leaders.
The study was co-authored by Dr Heidi Wechtler (Newcastle Business School) alongside Professor Mariano Heyden (Monash University) and Dr Sebastiaan van Doorn (University of Western Australia).
Reference
Heyden, M. L., Wechtler, H. M., & van Doorn, S. (2026). Wrinkle of change? The reproduction of executive age profiles across CEO succession episodes. Human Relations, 79(3), 312–346.
Forbes article: https://www.forbes.com/sites/benjaminlaker/2026/04/02/why-ceo-succession-rarely-delivers-actual-change/
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- Newcastle Business School
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