Insights

Many top executives today are lingering in their roles well past their intended exit date – often by two years or more. In fact, recent research shows that over half of C-suite leaders (56%) globally are likely to leave their jobs within the next two years . Some are even accelerating their timelines, with 27% expecting to resign within just 6 months . These eye-opening figures suggest a pent-up desire for change at the top. Why are so many CEOs, CTOs, COOs and CIOs staying on longer than they wanted? And more importantly – so what?

This trend carries significant implications for businesses, especially as the job market flips to favor candidates. Below, we explore why leaders are hanging on, what it means for your organization, and how proactive succession planning (including interim solutions) can turn a potential crisis into a strategic opportunity.

Leaders Lingering Longer Than Expected

Executives often take pride in commitment, but staying too long can become a liability. A new Conference Board report confirms CEOs are indeed remaining in their roles longer than before. For example, succession rates for CEOs aged 64+ dropped by 8% in 2024, meaning boards are replacing far fewer older CEOs than in prior years . Simply put, many veteran leaders are postponing retirement or career moves.

Why the extra two years (or more) at the helm? Common reasons include: waiting for a lucrative bonus payout, seeing the organization through a crisis (e.g. pandemic recovery), lack of a ready successor, or just personal comfort and identity tied to the role. As one CEO quipped, "when I became CEO...my jokes got funnier" – the prestige and influence are hard to give up .

However, when leaders linger beyond their "sell-by" date, organizations may pay the price. Research suggests that long-tenured executive teams can become stagnant, with lower enterprise growth compared to teams infused with fresh talent . The optimal tenure for a chief executive might be shorter than you think – one study found CEO performance peaks at around 5 years, yet average CEO tenures are nearly double that . Executives who overstay can grow insular, less responsive to market shifts . In fast-moving sectors like technology, this is especially risky.

The "So What": Business Impact of Waiting to Leave

When a top leader has mentally checked out but physically remains in the seat, it creates a hidden succession crisis. The cost of an abrupt, unplanned leadership exit can be huge. Consider: nearly half of boards (43%) admit they have no clear data on their risk of losing key executives , and over half of companies (56%) have no formal succession plan in place at all . In these cases, if a long-serving CEO or CTO suddenly resigns (or finally retires), the business can be caught flat-footed.

Some leaders try to time their departure right after annual bonuses or vesting periods – understandable from an individual view, but this often leaves the company in a lurch. The bigger "so what" is the disruption to business: lost momentum, stalled projects, jittery investors and employees. A scramble to fill the void can take months, damaging performance and morale. According to Gartner's analysis, organizations with less-tenured (i.e. newer) executive teams see weaker enterprise performance on key metrics . In a worst-case scenario, a poorly managed transition can even hurt stock price and customer confidence.

All this is unfolding as we rapidly enter a candidate-driven market for leadership talent. After a couple of years of hiring freezes and uncertainty, power is shifting back to candidates. Companies are once again hungry for experienced leaders, and those leaders have options. Nearly 3 in 4 companies worldwide report difficulty filling roles in 2025 – a near-record talent shortage . In the UK (as in the rest of the world), unemployment remains low and critical skill gaps persist. This means when a seasoned executive finally signals they're ready to go, you might find yourself competing to attract a suitable replacement in a fierce talent market. Simply put: if your leader leaves, replacing them won't be quick or easy in today's environment .

In summary, leaders staying longer than planned is a double-edged sword. On one side, continuity can provide stability through tough times. On the other, it can breed complacency – and set the stage for a turbulent exit that the organization isn't prepared for. Every CEO or CTO will eventually leave; the only question is whether it's on your terms or a chaotic surprise.

Creating a Safe Environment for Succession Talks

Given these stakes, business leaders and boards need to ask themselves: Are we fostering an environment where a CEO/CTO/CIO can openly discuss succession before dropping their resignation letter? Too often, the answer is no. Many corporate cultures treat a leader's departure as taboo until it's imminent – especially if that leader fears losing their end-of-year bonus or being seen as a "lame duck."

Yet the most future-ready organizations encourage proactive succession planning and candid conversations. This means a CEO could come to the board and say, "I'm considering moving on next year – let's put the succession plan in motion," without jeopardizing their position or compensation. It requires trust and a mutual understanding that planning ahead benefits everyone. The departing leader can exit gracefully (with due rewards), and the company avoids panic mode.

Unfortunately, only about a quarter of companies treat CEO succession as a top priority . The rest often default to emergency replacements or costly external searches at the last minute. No wonder many executives feel they must keep their departure plans secret. When no formal plan exists, giving early notice can be seen as rocking the boat. It's telling that 56% of organizations have no succession plan at all – a recipe for exactly the scenario we're discussing. Leaders may want to flag their intent to leave 6–12 months in advance, but if the culture doesn't support that, they'll wait in silence (often longer than they wanted) and then leave on their own timetable.

So what can you do? Building a safe succession culture starts at the top. Boards should make succession planning an ongoing agenda item – not a once-a-year checkbox. Executives should be encouraged to cultivate one or more potential successors and to speak up about their own career intentions. You want to know before the bonus checks clear if your CIO has one foot out the door. This doesn't mean forcing anyone's hand; it means treating leadership transitions as a normal, openly-discussed aspect of business continuity.

Consider these questions as a CEO or board member:

Have we identified who could step in if our CEO or other key leader left tomorrow? (If not, you're rolling the dice.)
Do we know what we will truly need in our next leader? For example, will the company's strategy 12–18 months from now require different strengths than the current leader's?
How long would it take to find and onboard a suitable successor? Executive searches can take months, and an internal leader may need grooming – timeframes matter.
What critical skill sets should our future leader possess, given how fast technology and markets are evolving? The profile of an ideal leader today might look very different in a year or two (think digital acumen, AI literacy, etc.).

Being able to answer these questions requires deliberate effort. It might feel uncomfortable at first – almost like planning for a breakup while things are "fine." But it's far better than scrambling when an executive's two-weeks notice hits your desk unexpectedly.

Rethinking Skills and Leadership for a Fast-Tech World

A key part of succession planning is anticipating the skills your next generation of leaders will need. If a seasoned CIO has been in role longer than they wanted, chances are their replacement will step into a very different technological landscape whenever they do take over. As a business leader, ask yourself: Does our succession plan account for the rapid evolution in tech and required skill sets?

Technology is moving blindingly fast, and the shelf-life of skills is shrinking. Nearly 80% of executives say hard skills are now relevant for less than 5 years before becoming outdated . One recent study was even more stark: half of all skills could be outdated within just two years ! Think about that – the tools and expertise that made your CTO successful in 2020 might be obsolete by 2025. From cloud platforms and cybersecurity to AI-driven analytics, the next leader must be equipped for the next wave, not the last.

This doesn't mean your current leadership is ineffective – it means continuous upskilling and fresh perspectives are critical. If a long-tenured leader has delayed leaving, there's a risk the organization is clinging to yesterday's playbook. Succession planning gives you a chance to realign leadership competencies with the future. Many boards are now stipulating that CEO successors have specific digital transformation experience or are adept in emerging tech, because every company is partly a tech company today.

"Do you know what skill sets this person requires in a world where tech moves so fast?" It's a question every company should be pondering. For example, if AI, automation, or data science is disrupting your industry, your next leader (or their leadership team) had better be fluent in those areas. The World Economic Forum forecasts huge shifts in in-demand skills by 2027, including analytical thinking, creative thinking, and technology use/monitoring, while skills like rote management are declining. When planning succession, define the core competencies for the role not just as it is today, but as it will be in 2–5 years. This future-oriented approach ensures you don't just backfill a position, but rather place someone at the helm who can navigate the road ahead.

Finally, don't underestimate soft skills and cultural fit. If a long-time leader is leaving, the cultural ripple effect will be significant. Successors need emotional intelligence and change management skills to unite teams and gain trust – especially if they're stepping in after a highly respected (or very entrenched) predecessor. The goal is not to clone the departing leader, but to identify what new capabilities the business will need for the next chapter.

Interim Leadership: A Bridge to Outcomes

One increasingly popular solution when faced with a leadership gap or a fast-changing skill requirement is to leverage interim executives. If you determine that "the leader we need now is different from the one we'll need 12 months from now," an interim can fill that void effectively. Rather than forcing a square peg into a round hole, you bring in a specialist leader for the current phase, with the understanding that it's a temporary assignment focused on outcomes.

Interim technology leaders (or interim CEOs, CFOs, etc.) can be game-changers in a few scenarios:

When you have a sudden vacancy: If a leader leaves sooner than expected (despite your best plans), an interim executive can step in immediately to maintain stability and keep strategic initiatives on track. This prevents the "interim limbo" where an internal manager does two jobs at once and the team stagnates .
When specific expertise is needed short-term: Perhaps your company is undertaking a major digital transformation, and you realize an external expert is needed to drive it for the next 9–12 months. An interim CTO with exactly the right skill set can lead the charge, while you continue searching for a permanent CTO who will focus on longer-term operations post-transformation.
When the business is in transition: For example, entering a new market, restructuring, or post-merger integration. The leader who excels at steady-state may not be ideal for high-change environments. An interim can carry the torch through the volatility, accomplish the set goals, and then hand over to a permanent leader once the dust settles. As one leadership advisor noted, "the leader you need to drive a turnaround is often not the one you need to sustain once it's complete."

Not long ago, bringing in contract executives had a bit of a stigma – but that's changed. The use of interim executives has surged by nearly 30% over the past decade as organizations recognize the value of flexible, specialized leadership. Companies get immediate expertise without a long-term commitment . Interim leaders are typically overqualified for the role (hit the ground running on day one) and laser-focused on delivering results in their short tenure . They also bring a fresh, unbiased perspective with "no political baggage" , which can be refreshing for teams that have been under one style of leadership for a long time.

Importantly, using an interim doesn't mean you neglect permanent succession. It's a both/and approach: the interim achieves critical outcomes now while you refine the profile and search for the right long-term leader. In a fast-moving tech context, you might even plan a series of leadership handoffs – for example, an interim CIO to execute a cloud migration this year, followed by a permanent CIO next year to focus on optimization and growth. What matters is that business outcomes are met and leadership continuity is maintained throughout.

Conclusion: Lead Your Succession, Don't Let It Lead You

If you're a CEO, COO, CTO, or CIO who feels you've stayed a couple years longer than you intended – you're not alone, and it's nothing to feel guilty about. 40% of stressed-out leaders have even contemplated leaving their roles to improve well-being . The key is what you do next. Ideally, you'll be able to have an honest conversation with your board or team about timing and succession, so you can exit on a high note and ensure the organization thrives after you're gone.

For boards and executive teams, the message is clear: succession planning is not a "later" issue – it's a now issue. Every leadership role will turn over, the only uncertainty is when. Treating succession as a strategic priority can turn it from a potential catastrophe into a seamless transition (even a positive refresh for the company). That means investing time in identifying emerging leaders internally, keeping an eye on industry talent externally, and understanding the evolving demands of the role.

We are entering a period of rapid executive turnover and a talent-driven market. Those companies that plan early, encourage open dialogue, and leverage creative solutions (like interim leadership) will be the ones to navigate the coming wave of transitions without missing a beat. Those that bury their heads in the sand may find themselves with an empty C-suite chair and no plan – a scenario no one wants to face.

Bottom line: Don't let your organization become a cautionary tale of a leader who gave two weeks' notice after bonus day, leaving everyone scrambling. Whether you're in the UK or operating globally, take action now. Ensure you know who and what you need before you need it. The best leaders guide their companies into the future – including guiding them through a well-planned handoff when the time is right. Make succession a continuous conversation, and you'll turn those extra two years at the top from a regret into a well-leveraged advantage for mentoring successors and cementing your legacy. In leadership, as in life, proactive planning beats reactive panic every time.

Sources:

Gartner (via Inc.) – majority of C-suite execs plan to exit within 2 years
The Conference Board – CEOs staying longer; CEO succession rates fell for age 64+ leaders
Exude/SHRM – 56% of organizations have no succession plan in place
SocialTalent/ManpowerGroup – 76% of employers struggling to fill roles (talent shortage)
SIY Global/Forbes – 78% of execs say hard skills <5-year shelf life; 50% of skills outdated in 2 years
ZRG / Institute of Interim Management – use of interim executives up ~30% in decade
HR Dive / DDI – 4 in 10 leaders considered leaving for well-being (looming exodus)