How long should CEOs remain in office? And do some of them stay on for too long? This is an ongoing debate among academics and practitioners, often triggered by headlines about long-serving CEOs who perform badly and destroy company value. A recent example is Société Générale’s Frédéric Oudéa, who is currently the longest-serving CEO of a major European bank despite having overseen a 75% drop in the company’s share price during his 13-year reign, giving it the lowest price-to-book ratio of any European bank.
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