Hail to the (Returning) Chief
The long shadow of former CEOs as change agents has touched companies from Starbucks to Disney. Charismatic former executives have successfully lobbied company board members to oust their successors. These situations rely heavily on past relationships and goodwill with members of the board, and are something of a family affair. Former senior executives with industry […]
Riyaz Lalani is a Managing Director, and Dan Gagnier is the Founder and a Managing Partner at Gagnier Communications. This post is based on their Gagnier Communications memorandum.
The long shadow of former CEOs as change agents has touched companies from Starbucks to Disney. Charismatic former executives have successfully lobbied company board members to oust their successors. These situations rely heavily on past relationships and goodwill with members of the board, and are something of a family affair.
Former senior executives with industry experience are also regularly sought after as independent company directors and activist nominees at companies where they have no prior employment history.
Many of these individuals serve as knowledgeable and experienced change agents and leaders. (E.g. the late railroad legend E. Hunter Harrison was enlisted by activist investors at Canadian Pacific Railway and CSX Corp.) This is by no means a new phenomenon and one that boards and investors frequently navigate.
