Out of all the Fortune 500 companies, only eight are without a permanent CEO—with retail businesses claiming half of those spots.
Fortune’s Phil Wahba writes that few retail executives have what it takes to be a CEO anymore, a result of the industry’s lack of a strong leadership talent pipeline.
At the same time, disruption has become a norm for retail and the list of required skills for CEOs keeps growing: “Now, a CEO needs to have not only an instinct for what products customers want but also chops in other areas, notably supply-chain management, cybersecurity, sourcing, e-commerce, and store operations, as well as the ability to build teams and adopt a style of empathetic and inclusive leadership that employees expect of today’s CEOs,” Phil writes.
“There are simply too few CEOs who have undergone the leadership development needed today compared to just a few years ago,” he writes.
That has pushed boards and search firms to cast a wider net when looking for candidates.
Read his story below to see why this is a troubling sign for the industry.
Not all CEOs wake up super early to seize the day. Some hit snooze, start their day at 10 a.m., and log on later while others are unwinding.
Join Fortune Well for a conversation on embracing the ‘soft life’
Tuesday, Feb. 21 at 3 p.m. EST via LinkedIn Live
It’s time to leave the Strong Black Woman trope in the past. Fortune Well reporter L’Oreal Thompson Payton will be joined by author and therapist Oludara Adeeyo for a conversation on embracing the “soft life.”
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