Shawn Cole Explains Why Boards Are Betting on First-Time CEOs
Shawn Cole, President and Founder of Cowen Partners Executive Search, was featured in Hunt Scanlon Media in a new report examining why boards are increasingly betting on first-time CEOs and how organizations can set these leaders up to succeed.
In the article “Why Boards Are Betting on New CEOs and How to Set Them Up to Win,” Shawn explores a fundamental shift in leadership succession. As experienced chief executives become scarcer, boards are prioritizing leadership potential, adaptability, and the ability to navigate disruption over prior CEO experience.
The data is striking. In 2025, 84% of new S&P 1500 CEOs were first-timers, and that pace is accelerating into 2026, with first-time leaders now stepping into roles at global giants like Disney and Walmart.
Key insights from Shawn:
A Fundamental Changing of the Guard: “First-time CEOs are no longer the exception in the market. They have quickly become the new standard for modern corporate success.” Shawn notes the veteran CEO pool is shrinking due to retirement, burnout, and changing personal preferences.
Why First-Timers Appeal to Boards: Younger CEOs often bring an intuitive grasp of digital change and AI, longer potential runways for multi-year transformations, and the institutional knowledge that comes with internal promotion (now over 75% of new appointments).
The Value of Cross-Industry Experience: Successful first-timers often share one trait, valuable experience gained across different industries. “Cross-sector experience is the ultimate hedge against industry-wide tunnel vision,” Shawn explains.
Setting First-Timers Up to Win: Shawn outlines three board priorities: strategic onboarding and mentorship (often through an Executive Chair), redefining succession as a multi-year process rather than a six-month handoff, and balancing a first-time CEO with a seasoned executive team.
Shawn’s conclusion captures the shift: “The focus has shifted from experience to potential and agility. When boards back potential with support, the first-timer’s edge becomes a company’s greatest long-term advantage.”
Read why boards are betting on first time CEOs in Hunt Scanlon.
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