Looking for a CEO successor? Check your board of directors
Executive Take
Boards are becoming CEO talent pools, not just oversight bodies. Directors who spend real time with the company can move faster and take bigger bets once they take the top job.
Executive Summary
Match Group named board member Spencer Rascoff CEO in February 2025, replacing Bernard Kim. Spencer Stuart found 19 of 168 new S&P 500 CEOs last year came from boards, the most since 2020. Under Rascoff, Match Group launched Tinder Events, acquired HER, invested $100 million in Sniffies, and net income rose 36% to $171 million.
Why It Matters
Leadership and HR executives should care because board composition is now a succession strategy, not just a governance checkbox. Companies without a bench plan are increasingly turning to sitting directors instead.
Bizquad Perspective
Most boards still treat director engagement as quarterly oversight, missing that regular one-on-one time with directors is quietly becoming the real CEO pipeline.