September 2003
The Business Council of Australia, in conjunction with management consultancy firm Booz Allen Hamilton, has released a study showing the chief executives of Australia’s largest companies spent only half the time in the position compared to chief executives globally.
The study, CEO Turnover in 2002: Trends, Causes and Lessons Learned, also found that the rate of turnover of CEOs in Australia is much higher than overseas.
Business Council of Australia President, Dr John Schubert, said the figures underlined a worrying trend toward short-termism in Australia.
He said it points to growing expectations that CEOs are expected to deliver more in a shorter timeframe, at the potential expense of longer-term strategies.