The article emphasizes the critical role of the board of directors in the transition of a new CEO, highlighting that their involvement can significantly dictate the success or failure of that transition. As both the CEO and board navigate the identity shifts and uncertainties inherent in this change, collaboration and support become essential. Research indicates that many new CEOs struggle due to cultural mismatches and unclear expectations, but the psychological dynamics at play underscore the importance of the board as a partner in this transformative process.
CEO transitions succeed not because of a single leader, but because an effective team, particularly the board of directors, supports the CEO's journey.
The psychological aspects of a CEO transition involve identity shifts for both the CEO and the board, creating a need for partnership during this time.
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