CEO hopefuls have a new rival for the top job: their own board directors

Appointing board directors as CEOs was once a “break glass in case of emergency” strategy reserved for scandal, illness, or sudden resignation. While it remains a minority path compared with traditional internal promotions, it is no longer an anomaly. New data from Spencer Stuart highlights the shift. Of the 168 new S&P 1500 chief executives appointed in 2025, the highest annual total since 2010, 19 were drawn from their own company boards, the most since 2020. Spencer Stuart classifies directors as outsi ...