The idea watch
The case study gives us an image of succession planning.it tells us about the thumb rules of selecting the CEO now and previously. The main challenges the corporate boards have is selecting the right candidate as they lack in data and there is too much dependency on fads and anecdotes. After that the thinking shifted that the selection of internal candidates is a better option. Even after making decisions the result that they got was equal results from the insiders as well as the outsiders. Their performance was equal. Then the choice had to be made on the basis of the competitive position of the company at the time of succession. The worst performing CEO were called a group INSIDERS OUTSIDERS who were hired in the company and promoted as the CEO within 18 months.
Even this approach was seen as a failure as the new leaders failed. The two step succession process required the candidate to audition for the top position .through this procedure ten insider outsider CEO’s were appointed between 2004 -2008 but they results were a failure.
THE CANDIDATES FOLLOWING FEATURES BEING GIVEN THE PREFERENCES:-
AGE
COLLEGE AND GRADUATION
DEGREE THAT THEY EARNED
WHAT EXPERIENCE DID THEY HAVE
Rather than determining which type of CEO candidate is required suiting the company.

Then came up the question as to why the insiders did well?
Doing well tend to attract strong talent in the first place.
They have more resource to invest in the company.
They already know the work