When "Short-Termism" Makes Sense

A constant demand for fresh blood sometimes deprives organizations of brilliant and effective leaders, but far more often it makes those organizations sharper and more competitive.

Reflect for a moment on the presidency of the United States. How many second terms have been more, or even as, successful as a president's first? Few, if any.

Change is America's mantra, and in no place more than in the corporate world. Boards should start off new administrations with the express understanding that the CEO's term is limited, and exceptions should be rare. And, without knowing anything about her, I'll bet that Anne Mulcahy win soon take on a new challenge at which she will be at least equally successful.

By Slade Gorton

 |  May 27, 2009; 10:50 AM ET
Category:  Succession
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