Abstract
Our research and experience in helping PE executives evaluate and develop CEOs and members of their senior management teams suggests that PE firms frequently evaluate CEOs or CEO candidates on the wrong criteria. Research by Bain & Company found PE firms replaced nearly half the CEOs of the companies they owned. Additionally, in 60% of those instances, the PE firm didn’t expect to replace the CEO when it bought the firm. By too often keeping or hiring the wrong CEOs, PE firms are leaving growth opportunities on the table. Why does this happen? Over the past eight years, FMG Leading evaluated 181 leaders of PE-backed companies and conducted structured interviews with more than 2,000 executives who worked with, for, or over them to identify trends in traits of the best leaders.
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