New Korn Ferry Study Finds CEO Transitions Are Outpacing Succession Readiness

Los Angeles, July 21, 2026 – Korn Ferry (NYSE: KFY) today released its 2026 CEO & Board Survey, revealing that leadership transitions are occurring faster than many organizations are prepared to manage. The rapid pace of transition is taking place amid sweeping transformation, including the advent of AI and increasing technology advancements and risks.

Key findings from the survey of 250 board directors and chief executives:

• Half (50%) of boards say succession planning started too late during their last CEO transition.
• Only 15% of board members say their organization did a very strong job preparing its first-time CEO.
• Just 10% of board directors say the new CEO is already fully connected to and trusted by the board.
• Only 49% of first-time CEOs are confident in managing AI and emerging technology risks, while 30% of board members say the same.

“First-time CEOs are stepping into the role with less time for margin for error, more scrutiny and faster-moving risks, particularly around technology, including AI,” said Tierney Remick, co-leader, Board & CEO Services, Korn Ferry. “The issue isn’t whether boards think these leaders can lead. It’s whether the trust and connection are in place early enough for the CEO and board to make critical decisions together.”

Other key themes from the CEO and Board survey include:

• Leadership Transition Has Less Runway: Boards are moving faster than their succession systems. While most (60%) agree succession works best as an ongoing process, few organizations (17%) review succession plans quarterly. In their last CEO transition, 50% of boards say succession planning started too late and 70% say they did not gather enough 360-degree feedback.
• The Pressure Points Facing First-Time CEOs: New CEOs are expected to lead transformation from day one, yet few feel fully set up to succeed. Only 15% of board members say their organization did a very strong job preparing its first-time CEO, and 55% of first-time CEOs say they struggle to balance how they spend their time and energy. As a result of these increasing pressure points, 77% of first-time CEOs and 68% of board members rated the operating performance of the company that a first-time CEO steps into as favorable.
• The AI Divide: Boards and CEOs largely agree on the risks ahead, but not on how ready organizations are to manage them, particularly as it relates to technology advancements. Only 49% of first-time CEOs are confident in managing AI and emerging technology risks, while 30% of board members say the same.
• Trust Has to Form Faster: While 83% of board directors are confident in their first-time CEO’s ability to lead, only 10% say the new CEO is already fully connected to and trusted by the board. At the same time, many board directors (50%) say they played it too safe in their last CEO succession decision.
• Sustaining Momentum: Leadership change is increasingly part of how organizations adapt. A majority (56%) of boards and CEOs say leadership changes have improved their organization’s ability to handle risk, and 61% say board turnover in the past year brought new strengths into the organization.

“While the demands on first-time CEOs are growing, the findings also point to a clear path forward,” said Jane Edison Stevenson, global vice chair, Board & CEO Services, Korn Ferry. “With the right preparation, feedback and alignment from the board, new leaders can build trust faster and step into the role with greater confidence. The organizations that do this well are better positioned to sustain momentum through leadership transition.”

The full CEO & Board Survey report can be found here.

Methodology

Korn Ferry surveyed 250 board directors and chief executives, including first-time CEOs, in April 2026. Respondents represented seven industries across the US (60%), the UK (20%), and EMEA (20%), and belong to organizations with 1,000 to 20,000+ employees. The survey explored how boards and CEOs are navigating leadership transition, organizational risk, succession readiness, governance, and trust.

About Korn Ferry:

Korn Ferry is a global consulting firm that powers performance. We unlock the potential in your people and unleash transformation across your business—synchronizing strategy, operations, and talent to accelerate performance, fuel growth, and inspire a legacy of change. That’s why the world’s most forward-thinking companies across every major industry turn to us—for a shared commitment to lasting impact and the bold ambition to Be More Than.

As the Official Talent & Organizational Consulting Partner of LA28, Korn Ferry is powering the nearly 5,000 people who power the Olympic Games—bringing in the right talent, building strong leaders, and shaping the structure and culture that will deliver an unforgettable experience for the world.