When does CEO succession lead to strategic change? The mediating role of top management team replacement

IF 1.2 Q4 MANAGEMENT

JOURNAL OF GENERAL MANAGEMENT Pub Date : 2022-11-28 DOI:10.1177/03063070221126267

David B Wangrow, Donald J. Schepker, Vincent L. Barker

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引用次数: 1

Abstract

While mandates for strategic change may accompany the selection of new Chief Executive Officer (CEOs), the broader set of leadership changes necessary for strategic change remains unclear. Motivated by upper echelons and resource dependence theories, direct relationships between three structural events associated with CEO succession and strategic change are examined, as well as whether these relationships are mediated by replacing top management team (TMT) members. Significant mediated relationships are found in which TMT replacement mediates the relationships of pre-succession firm performance and hiring an outsider as CEO with post-succession strategic change. Involuntary CEO turnover is found to be directly related to post-succession strategic change, with no significant mediating effects from TMT replacement. These findings suggest that boards seeking strategic change following a CEO succession should also consider TMT member succession, including whether CEO candidates can leverage their networks to attract new TMT members with human and social capital that supports strategic change objectives.

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CEO的继任何时会带来战略变革？高层管理团队更替的中介作用

虽然战略变革的授权可能伴随着新首席执行官的选择，但战略变革所需的更广泛的领导层变革仍不清楚。在高层和资源依赖理论的激励下，研究了与首席执行官继任和战略变革相关的三个结构性事件之间的直接关系，以及这些关系是否通过更换高层管理团队（TMT）成员来调节。研究发现，TMT替代对继任前公司业绩和聘请外部人士担任CEO与继任后战略变化之间的关系存在显著的中介关系。研究发现，CEO非自愿离职与继任后的战略变化直接相关，TMT更替没有显著的中介作用。这些发现表明，在首席执行官继任后寻求战略变革的董事会还应考虑TMT成员的继任，包括首席执行官候选人是否可以利用其网络，以支持战略变革目标的人力和社会资本吸引新的TMT成员。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

JOURNAL OF GENERAL MANAGEMENT MANAGEMENT-

CiteScore

2.60

自引率

33.30%

发文量

期刊介绍： Journal of General Management is quarterly peer reviewed journal, with a mission to provide thought leadership by publishing articles on managerial practices with organisation-wide or cross-functional implications. We seek original theoretical and practical insights into general management in all types of organisations.