DHR International: Why FTSE 100 Deputy CEOs are sharply declining

FTSE 100 companies are ridding themselves of deputy CEOs to ensure more flexible succession planning, according to DHR International.

The executive search firm reveals that the number of FTSE 100 Deputy CEOs has decreased from six to three in the past two years alone.

Frank Smeekes is the Managing Partner for Europe at DHR International. Speaking exclusively to Executive Grapevine, he says the decreasing number of Deputy CEOs could be caused by FTSE 100 companies’ desire to be more flexible. Smeekes explains: “The turnover of executives has become quicker in the past few years. When you have a number two person in place, such as a Deputy CEO, that person will create a glass ceiling. That is bad for a number of reasons. The first is that the outside organisations will have an easier time poaching people from the management team.

“The second reason is that larger organisations in general want there to be a potential to climb the career ladder. That way, companies can improve their retention of executives.”