This paper addresses new CEOs in failing firms and their potential positive
or negative impact in terms of strategic reorientation and organizational survival.
Specifically, the authors recognize the need for new CEOs of failing firms to be able
and willing to rapidly make strategic and tactical transformative changes through
their decisions and actions. Specific suggestions are made in terms of capabilities
and experience needed by new CEOs of failing firms in order for them to positively
impact the future of their respective organizations.