When it's time to replace the boss, deputy leaders seldom wind up in the C-suite, notes Richard Northedge. Regardless of formal succession plans, many companies see a CEO's departure as an opportunity to raid their rivals, Northedge writes. "Promoting an insider provides continuity and is usually cheaper ... but the odds are stacked against the company incumbents," he adds. "It is another reason for never accepting a job with deputy in the title."
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