Key Findings
- 1Eleven Top 40 CEOs changed hands between Q3 2024 and Q1 2026. The pattern of internal vs external hires signals a shift in SA succession planning.
Overview
Eleven Top 40 companies announced CEO transitions between Q3 2024 and Q1 2026 . Nine were internal promotions, two external.
"Where the internal pattern breaks down Where external hires were made, both came from adjacent Africa markets — not global recruits."
Organisations with top-quartile leadership scores generate 2.8x more innovation revenue and retain talent 58% longer.
Leadership quality has become the strongest predictor of enterprise value creation.
Why this matters now
That 82% internal-hire rate is materially higher than the 61% global average across MSCI World constituents (Spencer Stuart Route to the Top 2025).
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