B2 – Upper Intermediate
Several chief executive officers or CEOs of some of the biggest companies have stepped down from their position. In some cases, they come back or get reinstated after a while.
Is this move advantageous for the company that they work for though? Could it really be that ‘second time’s the charm’ for these CEOs?
Watch the video and find out more about the boomerang CEOs.
https://www.bbc.com/reel/video/p0h9q7kj/boomerang-ceos-do-they-ever-succeed-
Vocabulary Questions:
- What does “boomerang CEO” mean? “We looked at over 6,000 CEO succession or turnovers. There are less than 200 of them that were boomerang CEOs.” Use this term in a sentence.
- What does “product line” mean? “Steve Jobs innovated. He came out with all these new products and recreated the company with new product lines.” Use this term in a sentence
- What does “to bring the magic back” mean? “When Howard Schultz came back that first time, he brought some of that magic back.” Give two (2) synonyms or similar expressions and use this idiom in your own sentence.
Discussion Questions:
- What is the general trend among boomerang CEOs when they come back?
- What is your opinion about the boomerang CEO trend?
- What can boomerang CEOs do in order to ensure success upon their comeback?
- Talk about a boomerang CEO from your country. Why did they have to step down before and what are some of the things they did upon returning to their position? Was it a good thing for the company in the end? Elaborate.
- Share your thoughts on this, “Founders just have this huge attachment that other people do not to the companies that they started and created. And so there is this protectiveness.”.
- Share your insights on the ‘founder CEO’s shelf life’ and that “For most people, there’s going to be a time where it outgrows your skill set in terms of your ability to manage it. Be willing to let go of your ‘baby’ and to step down when the time is right.”
4 replies on “Boomerang CEOs”
Honestly, I did not know a lot about this topic before watching this video. The expert says that usually the trend of boomerang CEO is quite bad. They do worse than before in general. Maybe is due to they lose self-confidence or the don’t get to have new fresh ideas or products. In order to have a return with success I will give them a piece of advices : to take break- holidays, observe the workforce and the new market tendencies and to have psychological therapy or coach to change the way to do the things for bringing new ideas , processes , products…
Respect Founders CEO is much more difficult to leave the company in other hands but sometimes is need if they want to keep the company in the market. I Suggest to be advised by expert in the market, product and psychologist to give the step and be happy. This kind of people is very auto-demanding.
Thank you for sharing your thoughts about this topic. Well done!
Note a few slight changes you can make in this sentence to improve it:
Keep doing this exercise. To more entries from you! Cheers!
1. What does “boomerang CEO” mean?
Sentence: The boomerang CEOs, those who come back, tend to perform worse in general according to the statistics.
2. What does “product line” mean?
Sentence: Apple is a recognized brand in the industry for offering a high-quality product line.
3. What does “to bring the magic back” mean?
Synonyms: create a magical atmosphere, generate again fantasy.
Sentence: The new manager of the Company has brought hope back to employees by raising salaries and giving more flexibility to those with children or family members to care for.
1. What is the general trend among boomerang CEOs when they come back?
The general trend for those CEOs who come back, is that their performance is worse, and they achieve worse results for the Company.
2. What is your opinion about the boomerang CEO trend?
I think that normally, although there are exceptions, when they decide to step down from their position it is because there is something that it is not working, and the company needs new approaches and a new mindset for giving better results. So, this is not strange that only a small percentage decide to come back, and most of them don’t succeed.
3. What can boomerang CEOs do in order to ensure success upon their comeback?
In my opinion, a CEO should be willing to step down when the time is right and not return under any circumstances.
But in case the CEO returns, to ensure success he/she should contribute to a new radical change in the organization and let him/her be advised by expert people but with a new and fresh vision who contribute with new changes that will help the Company to achieve success.
4. Talk about a boomerang CEO from your country.
I don’t know an specific case from my country but I can give the case of The Walt Disney Company`s CEO Bob Iger as example. He announced his retirement in 2020 after 15 years and he was succeeded by Bob Chapek, however he was hired back as CEO in 2022 to set a strategic direction for renewed growth .
As far as I know, he left the company because it was not working very well at that moment, but it started to work even worse after. His first measure was to propose several organizational changes. I think that at the end it was good for the Company, but this was an exception. In general, all these changes do not affect in a good way to the company and employees.
5. Share your thoughts on this, “Founders just have this huge attachment that other people do not to the companies that they started and created. And so there is this protectiveness.”.
Yes, I agree with this statement. It is normal for the Founders to have an affective feeling for the company which they have created and I think that it make sense. After all, creating a company from scratch implies investing a lot of time, money and a great dedication to carry out such a Project, so I totally understand this protective feeling.
5. Share your insights on the ‘founder CEO’s shelf life’ and that “For most people, there’s going to be a time where it outgrows your skill set in terms of your ability to manage it. Be willing to let go of your ‘baby’ and to step down when the time is right.”
I believe that everything has a beginning and an end, above all in terms of work, where life usually goes faster than we do and the new generations and technologies grow so quickly that appears new companies, new profiles and a new way to see the life in general. So I think that the motto is “to renew or die”. So, you need to know that there will be a moment you need to give your space to others.
You did great writing your responses to your lesson’s discussion questions!
See how you can improve the word order in this sentence:
Keep up the good job!