If the TV show ‘Succession’ taught us anything, it’s that handovers of power are rarely simple.
They’re high-stakes, they’re political, they’re of interest to everyone. And with CEO tenures getting ever shorter , transitions are happening more often than ever.The Trump-Musk clash shows how such shifts can quickly gain ‘celebrity breakup’ status – just look at the below headline in The Daily Mail.
Turnover among US C-Suites reached record levels in 2024, with 58 CEOs from the S&P 500 moving on, according to Russell Reynolds Associates’ Global CEO Turnover Index.
Importantly, Axios highlights the opportunity that transition brings. Apart from Boeing, CVS and Walgreens, their data shows that appointing a new CEO boosts a company’s reputation.
Handling appointments with confidence and leveraging their visibility can yield significant rewards.
Take Darktrace’s promotion of Jill Popelka to CEO.
Jill’s path to the top was by no means straightforward, but that’s not evident from her interview with the Financial Times, where she reflects on her first year in the role and outlines her vision for the business.
Wearing company-branded socks, the former COO expresses firm support for her predecessor, Poppy Gustafsson.
The lesson? Businesses are more than the sum of their people. Differentiation is key, but disregarding an organisation’s legacy and identity can alienate key stakeholders. Just look at the backlash that greeted Thomas Tuchel—England’s latest football manager—after he repeatedly criticised his predecessor, Gareth Southgate.
Leaders should also seize the media ‘moment’ and establish their messaging early. A Financial Times profile is a win for any leader, and Jill balances personal insights with corporate strategy effectively.
Anticipating questions about her move to the UK, Jill affirms her continued commitment to the US, tying this to family priorities and endorsing workplace diversity.
A strong opportunity well-utilised.
But what about leaders stepping down?
Handing over the reins is never simple — just ask the 94-year-old recent retiree Warren Buffett.
Saying goodbye can be tough and raise difficult questions. Much like celebrity breakups, journalists are quick to speculate, making proactive communication crucial.
Alex Mahon, a seasoned media executive, is a good example. Her departure as CEO of the UK’s Channel 4 eschewed the traditional press release in favour of a self-recorded LinkedIn video and post — unpolished at first glance, yet expertly executed.
In her video, Alex bridges the personal and the professional, showcasing her love for Channel 4 more than her personal legacy.
Like Jill, Alex anticipates scrutiny. Her post dispels any speculation over succession plans, framing her timing as a result of “a rare quiet moment” that aligns with the appointment of a new Chair.
Alex’s message is clear: the show must go on, and Channel 4 will continue to weather the “stormy waters” for years to come.
Whether taking charge or stepping aside:
• Seize the moment
• Craft the narrative confidently
• Choose the channel that matches your message
Or, you might take Mark Carney’s approach and simply dance the night away…
