Chief executive officer's tenure: How long is too long at the top?

A young man and an older man illustrate the power of mentorship. [Getty Images]

Many companies in Kenya have had their hands full this year manoeuvring through a relatively low customer and consumer demand for their products and services even as business operational costs rise. This is amidst a disruptive, stiff and ever evolving competitive landscape. According to consultants Challenger, Gray & Christmas, January-through-May 2023, has seen 789 exits from the corner office in US companies, an 18 per cent increase in the same period, year on year.

Whilst not giving specific reasons for the high turnover, the consultant alludes to the fact that organisations in the United States are dealing with some uncertainty surrounding recession concerns, disruptive technology, and high interest rates. Additionally, the workplace has 'fundamentally changed' over the past three years, and CEOs like anyone else, experience burnout.