A NOTE FROM OUR EDITOR-IN-CHIEF ALYSON SHONTELL

But the second—or third—CEO tour is indicative of managerial dysfunction and poor succession planning, leadership experts say. Worse still, the data shows boomerangs aren’t always more effective than first-time corner office holders. According to a study of 167 returning CEOs from the S&P Composite 1500 between 1992 and 2017, their annual stock performance was 10.1% lower than that of their first-time counterparts. That’s a searing indictment.

Additionally, boomerang CEOs may not recognize the company they’re returning to in today’s fast-paced business environment and lack the skills to address new challenges. Over the last three years, CEOs have grappled with a global pandemic, social justice protests, supply chain chaos—the list goes on.

But when push comes to shove, and there’s no better option, ex-CEOs are a sensical choice as long as their reinstatement is temporary. A better option? Prioritize succession planning well before the current CEO’s departure.

APRIL 17, 2023

MAGAZINE

— Preventing burnout is now the number one job for bosses. These 7 strategies can protect your teams

HOUSING

— Homebuyers are saving thousands by talking their way into mortgage rate buydowns. Here’s how to do it

— Things are getting really weird in the housing market

FINANCE

— How a pod of SVB bankers are starting over at a new firm after their world fell apart

PERSONAL FINANCE

— Childcare is so expensive that families are spending a quarter of their income on it

— Are we in a recession? What it really means—and how to prepare

CRYPTO

— Taylor Swift avoided $100 million FTX debacle by questioning whether the exchange was selling unregistered securities

A.I.

— Snap’s ‘My AI’ chatbot tells users it doesn’t know their location. It does.

— Google CEO Sundar Pichai says ‘hallucination problems’ still plague A.I. tech and he doesn’t know why

— A.I. was supposed to improve decision making. Instead, business leaders are so overwhelmed with data they’re struggling to function

SUCCESS

— Workers aren’t scared of a recession—they’re still looking for a new job

— Companies that ditch degree requirements in favor of skills-based hiring could see an explosion of talent with 19x the workers

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