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Founder involvement in CEO turnover

Author

Listed:
  • Oskar Kowalewski

    (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

  • Aleksandra Majda-Kariozen

    (Faculty of Management, University of Lodz)

  • Błażej Socha

    (Faculty of Management, University of Lodz)

Abstract

We study the role of a company founder in the internal governance of firms. Using a sample of 484 CEO turnovers for 2000–2015, we establish that CEOs are fired for poor performance. However, the likelihood of a poor‐performing founder‐CEO being fired is lower than that of an outsider CEO. Moreover, having a founder as a member of the executive or supervisory board decreases the likelihood that a CEO will be dismissed for poor performance. Similarly, founder ownership may have the same effect on CEO turnover. Finally, being a founder does not guarantee a poor‐performing CEO a chairman position after being fired.

Suggested Citation

  • Oskar Kowalewski & Aleksandra Majda-Kariozen & Błażej Socha, 2023. "Founder involvement in CEO turnover," Post-Print hal-04273953, HAL.
    • Handle: RePEc:hal:journl:hal-04273953
    DOI: 10.1002/jsc.2547
    as

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