Here are ten key statistics on CEO turnover and recruitment from a recent Black Book Rankings poll. The poll was completed by 1,404 healthcare provider organizations' human resource officers and board members.
• The average hospital CEO tenure is under 3.5 years.
• Fifty-six percent of CEO turnovers are involuntary.
• When a new CEO is hired, almost half of CFOs, COOs and CIOs are fired within nine months.
• Within two months of a new CEO appointment, 87 percent of CMOs are replaced.
• Ninety-four percent of new CEOs without healthcare sector experience believe extensive healthcare knowledge is not necessary to replace senior management positions.
• Eighty-nine percent of people involved in the hiring process believe a broad area of business expertise is beneficial in a hospital CEO position.
• Most new hospital CEO candidates come from a venture capital/private equity industry background (42 percent,) followed by finance and accounting (40 percent,) banking (32 percent) and marketing and sales (19 percent.)
More Articles on Leadership and Management:
5 Predictions for Value-Based Care in 2014
14 Hospital and Health System CEOs With Blogs
23 Findings on Consumer-Hospital Relationships