Document Type

Article

Publication Date

2008

Publication Title

Journal of Management and Governance

Volume

12

Issue

4

First Page

381

Last Page

401

Keywords

Business And Economics--Banking And Finance

Abstract

In relay succession, boards add the Chair title to successful CEOs, creating duality. Sometimes boards by-pass relay succession and appoint an individual directly into the dual position. We propose that this will occur when there is the need for an unambiguous leader and when the appointee has greater bargaining power. We show that following the firing of the predecessor, when the successor is an outsider, and when the successor is not the designated heir, the incidence of simultaneous dual appointments increases. We also find that executives appointed into the dual positions are older than those appointed only as a CEO.

Comments

The article available for download is a post print. The definitive version is published in the Journal of Management and Governance. It is available here. Copyright (2012) Springer.

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