Does anyone win a CEO horse race?

07/31/2009 | Wall Street Journal, The

General Electric famously made CEO Jeff Immelt face off against Bob Nardelli and Jim McNerney for the top job -- but James M. Citrin argues that turning the CEO selection process into a contest is ultimately destructive. The competition can distract and divide an organization for as long as a year, it can drive great people out of the company and it typically focuses too much on short-term results, instead of a candidate's entire career.

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