From Intern to CEO: Does it Pay to be a Company Lifer?—The Financial Times

The recent appointment of Elliott Hill as Nike’s CEO has sparked a discussion about the merits of promoting “lifers” within organizations. While company veterans like Hill offer deep institutional knowledge and loyalty, there are concerns about potential drawbacks. Quoted in The Financial Times, R.J. Bannister, partner at Farient Advisors, cautions that lifers may develop tunnel vision and face stereotyping. To mitigate these risks, companies can implement strategies like fostering diverse leadership teams and encouraging external learning experiences. Ultimately, the debate about the value of company lifers versus external hires continues to evolve.

About R.J. Bannister

Partner, COO, Farient Advisors/GECN Group, New York

New York: (646) 626-6929
Mobile: (917) 747-3985
rj.bannister@farient.com

R.J. has 30-plus years of experience consulting to the S&P 1500 and large private companies representing the board’s compensation committee or management, and sometimes both parties. R.J. has worked with hundreds of companies on their total rewards strategy and executive compensation philosophy to align pay programs with business strategy. His ability to create alignment results from deep insights on industry and compensation trends; sophisticated financial, market, and compensation analytics; and impactful, easy-to-implement solutions. He has worked in nearly every industry sector and extensively with private equity companies. Before joining Farient, R.J. was the founder and CEO of Bannister Group LLC, an executive compensation and total rewards consultancy he founded in 2019 after retiring as a managing director from Willis Towers Watson. R.J. holds an MSc in economics from the London School of Economics and a BS in economics from the University of Pennsylvania’s Wharton School with a triple concentration in corporate finance, strategic management, and international political science.

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