By Carrie Anne Deters
THE ERICKSON TRIBUNE

When you throw a boomerang, it always comes back.

Since 2000, many major players in corporate America have relied on a former CEO to “boomerang” and return to the helm of the company. Williams- Sonoma, Kraft, Apple Computer, Boeing, Delta Air Lines, Honeywell International, Corning, Dow Chemical, and Lucent Technologies have all requested the return of successful former leaders.

Facts and figures
CEO turnover has skyrocketed to outstanding heights in recent years. In 2005, a record number of 1,322 chief executives stepped down. According to Challenger, Gray & Christmas, a premier outplacement consulting organization, an average of six CEOs retire each day. At that pace, the number of CEOs to  step down in 2007 will be even greater. Figures from Challenger, Gray, & Christmas also show that in 2006 1,234 CEO changes were recorded over ten months, an 11% increase from 2005.

No retirement age
Age is of less importance in business today—ability, aptitude, and experience take priority. John Challenger, CEO of Challenger, Gray, & Christmas, says, “Today there is truly a demand for experienced older executives. The cliff of retirement has disappeared; 65 no longer equals retirement. Companies are less hampered by age.”

More often companies seek executives who can produce results. An executive’s career speaks for itself. Eric Wheel, at the executive search firm PrincetonOne, explains, “In many cases, the returning CEO is really seen as embodying the best of that company.” Challenger says, “Due to the great competition at the executive level, experience is key. For boomerang CEOs specific knowledge of the company is a great asset.”

Part of the plan?
Analysts claim companies  rely on the return of retired CEOs due to poor succession planning or ineffective and sometimes disappointing leadership of younger CEOs groomed to take over.