Sollen CEOs rotieren? (2021)

The institution of a single CEO (Chief Executive Officer) has significant weaknesses.The CEO’s interests diverge from those of the owners and their representants as well as other top managers. Assigning so much power to a single person is risky. Changing a CEO incurs high costs. However, the traditional alter- native, a top management team working collectively, also has serious drawbacks. A new governance institution – a team of rotating chief executive officers – combines the advan- tages of the two traditional models without being fraught with their disadvantages.

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Eichenberger Reiner, Frey Bruno S.