The abrupt Starbucks CEO change reveals a big topic boards struggle with
Cynthia Stoldt, CEO of Aherne Executive Search, says she is witnessing that priority shift in her company’s CEO searches. Because employee retention is so critical now, everyone is paying very close attention to the way transitions are carried out, she says.
She cites as an example a recent CEO search she did for a consumer company. The organization was experiencing double-digit growth and was able to avoid layoffs throughout the pandemic and beyond. Employees there felt very secure and motivated, Stoldt says.
For personal reasons the CEO needed to resign and Stoldt’s firm was charged with finding his replacement. This leader was very confident and energizing and we needed to replace him with someone who would instill that confidence in a way where the company would not lose any of their other top-tier talent, she says. Stoldt says looking for that kind of stylistic fit was probably something she would not have prioritized in years past.
The searches now are all being done with an eye for retaining top talent, she says.