The Leadership Reset: Why Companies Are Replacing More Executives Than They Are Adding

For much of the last decade, executive hiring was closely tied to expansion. Growing companies added new business units, entered new markets, launched digital initiatives, and created leadership roles to support growth.


Today, the picture looks markedly different.


While demand for senior leadership remains strong, a growing share of executive hiring is being driven by replacement rather than expansion. Across industries, boards and leadership teams are increasingly focused on succession planning, retirement-related transitions, and upgrading leadership capabilities to meet rapidly evolving business demands.


In many organizations, the question is no longer, "What new leadership roles do we need?" Instead, it has become, "Do we have the right leaders for the future we are building?"


Several converging trends are driving this shift.


A Wave of Leadership Turnover

Leadership turnover continues to accelerate across public and private companies. According to research cited by Harvard Business Review, CEO succession rates reached 12.5% in 2025, up significantly from 9.8% the prior year. At the same time, more than 2,000 CEO departures were recorded in the United States, reflecting one of the most active succession environments in recent decades.


Boards are also becoming more willing to look externally for leadership talent. Recent data show that 44% of CEO appointments among S&P 1500 companies came from outside the organization, a level near a 25-year high.


This growing willingness to seek external leadership reflects a broader reality: many organizations believe that the skills required for the next phase of growth may not be fully represented within their current leadership teams.


The Retirement Factor Is Becoming Impossible to Ignore

Demographics are creating another powerful force behind replacement hiring.


Large numbers of Baby Boomers continue to exit the workforce, creating leadership gaps across industries. While retirement timing varies by sector and geography, organizations are increasingly confronting the loss of decades of institutional knowledge and leadership experience.


Many companies spent the past several years postponing succession discussions while navigating economic uncertainty, inflation, and labor market disruption. As a result, some organizations are now facing a compressed timeline to identify and develop the next generation of leaders.


The challenge extends beyond simply filling vacancies. In many cases, companies are discovering that there are fewer experienced leaders available than expected, particularly in specialized industries where leadership pipelines have not kept pace with retirements. Evidence of these pressures is appearing across both public and private sectors as organizations report increasing difficulty replacing highly experienced senior talent.


From Replacement to Upgrade

Not all replacement hiring is driven by turnover.


An increasingly common scenario involves organizations replacing leaders who are performing adequately but lack the capabilities required for future business needs.


Economic uncertainty has made many organizations cautious about adding headcount. Instead of creating new executive positions, boards are asking whether existing leadership structures are optimized for growth, profitability, and transformation.


Recruiters and talent advisors report a significant increase in confidential replacement searches, particularly for leadership positions impacted by AI, digital transformation, operational efficiency, and changing customer expectations. Rather than expanding leadership teams, organizations are investing in stronger leadership capability within existing roles.


This represents a meaningful shift from previous cycles. Historically, executive hiring often accompanied organizational growth. Today, many leadership searches are designed to improve execution, accelerate transformation, or close capability gaps.


AI Is Raising the Leadership Bar

Artificial intelligence is emerging as one of the strongest drivers of leadership upgrades.


Boards increasingly expect executives to understand not only their functional disciplines but also how AI will reshape business models, workflows, workforce planning, customer engagement, and competitive advantage.


Organizations are reassessing leadership teams through a new lens: adaptability.


Leaders are being evaluated on their ability to navigate technological disruption, lead workforce transformation, make data-driven decisions, and build organizations capable of operating in a rapidly changing environment. Companies across industries are investing heavily in AI capabilities and adjusting talent strategies accordingly.


As a result, many executive searches today are less about filling a vacancy and more about acquiring capabilities that did not exist as leadership requirements even a few years ago.


What Corporate Leaders Should Be Thinking About

The implications for boards, CEOs, and CHROs are significant.


Organizations that treat leadership succession as an occasional event may find themselves competing for scarce talent at precisely the moment they need continuity and stability. Meanwhile, companies that regularly assess leadership capabilities against future business requirements will be better positioned to navigate both retirements and transformation.


The most successful organizations are no longer viewing succession planning and executive hiring as separate activities. They are treating both as part of a broader leadership strategy focused on future readiness.


The executive hiring market in 2026 remains active, but the underlying motivation has changed. For many organizations, the priority is not adding more leaders. It is ensuring they have the right leaders for what comes next.

By Effie Zimmerman • October 20, 2026
Chief Information Officer ABOUT THE COMPANY With roots dating back to 1938, The Papé Group is the West’s leading supplier of capital equipment solutions. Today, Papé operate across nine states with over 4,000 team members, proudly representing premier brands including John Deere, Kenworth, Hyster, Ditch Witch, and more. What sets Papé apart is its commitment to long-term relationships, both with customers and employees. As a fourth-generation, family-led business, Papé believes in the value of a handshake, the importance of service, and the impact of leadership that stays close to the work. ABOUT THE POSITION The Chief Information Officer (CIO) provides leadership and management of the information technology function for the company. The CIO is responsible for providing leadership and development to the corporate technology team, including software development, infrastructure, support, web development, database administration, and applications development. The CIO will partner with company-wide business leaders to align their business needs as well as corporate initiatives with cost-effective technology strategies and solutions to achieve those goals as the company continues to grow and evolve. Examples include the company’s One Customer | One Papé initiative that is designed to strengthen the relationship between customers and the company through a variety of mediums, with a heavy emphasis on leveraging technology. The CIO will be a proven technology and business leader and possess broad-based progressive IT leadership experience. The role requires sophisticated management skills in IT planning, organizational design and development, and process thinking. Papé has completed 25+ acquisitions over the past 8 years, with each acquisition being fully integrated into Papé’s technology infrastructure and systems on day one. Essential Duties and Responsibilities Team Management and Development Lead, train, develop, and coach a high-performance information technology team; identifying appropriate staffing needs, skill sets, or alternative outsourcing. Align IT's organizational structure and initiatives with company-wide requirements for technology solutions, information needs and security requirements. Responsible for optimizing the IT demands and the supply capacity of the teams to prioritize the assignment of resources. Set objectives and strategies for the IT team. Strategic and Business Planning Develop and execute short-, mid-, and long-term strategic technology and system roadmaps that translate business requirements into projects, goals, objectives, and deliverables with the business partners and end-user experience in mind. Establish the objectives for operations, maintenance, and enhancement of the IT systems and a plan for continuous improvement of the service levels. Help define IT infrastructure strategy, architecture, and processes. Drive a coordinated ERP approach across all of Papé’s operating companies to ensure the success and integrity of the overall design and integrations with other technologies. Technology and Infrastructure Full operational management responsibility for information and telecommunication technology functions and services; ensures appropriate implementation and support for business systems by managing and coordinating applications development/maintenance, data processing, data center infrastructure, local/wide area network administration, office automation, and technical support activities. Responsible for building and optimizing the evolving needs of system-level architectural capabilities to support the data and integration strategies. Evaluate effectiveness, efficiency, and costs of existing technology and systems, research new or alternative solutions, and make recommendations to senior management as appropriate. Maintain working knowledge of new and evolving technologies and systems for possible application to development or future organization needs. Identify emerging issues in technology and digital processes and develop strategies to implement value-added technology, collaborating with functional areas of the business impacted. Participate in the evaluation of new tools, platforms and technologies and articulate the business case for investments. Provide architecture leadership around technology interfaces with systems outside of the ERP, including those that reside with the OEMs, and the company’s CRM. Ensure that the organization continues to stay current with the latest technology security applications and tools to guard against cyber threats. Project Management Develop and manage project plans in collaboration with functional business leaders to ensure proper resource utilization, expense management, and timely completion. Leads large IT projects, including the design and deployment of new IT systems and services. Develop and manage the annual information technology department budget; includes project planning, expense management, and external resource utilization. Prioritize, assign, and manage a portfolio of technology projects in support of business goals; ensure delivery of projects within time and cost limitations. Partner with other functional leaders on implementation and company-wide adoption of new technology and/or processes through effective change management. External Relationships Provide expertise and leadership in the selection and management of vendors to provide low-cost, high-efficiency solutions. Represent Papé at industry conferences and be an active member with the OEMs to help influence technology outcomes. Business Partnering Engage, build, and partner with executive leaders and key stakeholders to ensure alignment with current and long-term business objectives. Work closely with cross-functional leaders to identify technology business needs, develop collaborative solutions and execution plans in alignment with the business strategy. Be obsessed with delivering results, insist on high standards, possess a knack for thinking strategically and “finding a way”, and an external awareness and curiosity to innovate and disrupt within the capital equipment market. Participate, as a member of the business leadership team, in strategic planning activities by providing systemic and technological solutions where business opportunities or challenges are identified. Ensure a business intelligence structure and tools are in place to deliver appropriate information to decision makers. Qualifications Bachelor’s degree in information systems, business, or equivalent analytical and strategic management capabilities acquired through on-the-job experience and training. 10+ years of progressive leadership experience with 5+ years in a senior leadership position managing a similar scope and size technology team. Proven success leading IT, preferably in a complex, multi-location, multi-business organization, preferably involving equipment dealerships, distribution, or similar operationally intensive businesses. Experience integrating and progressively modernizing custom legacy applications alongside cloud, SaaS, and emerging AI technologies. Ability to analyze business needs and recommend and implement appropriate solutions. Ability to develop and collect key performance indicators to measure performance. Experience managing a wide variety and scope of information technology projects that successfully achieve time, cost, and operational expectations. Comprehensive knowledge of IS technology architecture, software, ERP experience, cloud computing, mobile computing, IT security, and company-wide training. Experienced in leading teams of IT professionals and staff across multiple technical disciplines Ability to communicate vision, motivate workforce, create effective teams, and build strong peer relationships. Ability to prioritize and manage multiple ongoing projects and responsibilities to meet business technology needs. Experience in developing and supporting customer-facing business systems and/or implementing related digital transformation initiatives. Strong ability to collaborate functionally with other management and leadership team members. An effective communicator who clearly and concisely conveys information and ideas to all levels of the organization and uses your influencing skills to advance shared interests and business goals. Innovative problem solver with critical thinking skills and strong analytical abilities. Experience with system integration and change management. Interested in Learning More? 180one is assisting The Papé Group in this search. If interested in learning more about the opportunity, please contact Tom Haley/ 503.334.1350/ tom@180one.com .
By Effie Zimmerman • October 13, 2026
Chief Financial Officer ABOUT THE COMPANY Kenworth Sales Company is a multi-generation, family-owned commercial truck dealership founded in 1945 and headquartered in West Valley City, Utah. With more than 1,400 employees across 38 locations, the company provides comprehensive truck sales, parts, service, leasing, rental, and financing solutions throughout the Intermountain West and Mid-Atlantic regions. Recognized as Kenworth Dealer of the Year in both 2020 and 2025, Kenworth Sales Company has built its reputation on quality products, superior service, and a long-standing commitment to its customers and communities. ABOUT THE POSITION Reporting directly to the President, the Chief Financial Officer provides strategic leadership and oversight across accounting, financial reporting, compliance, information technology, security and risk management, finance, and treasury. As a key member of the senior leadership team, the CFO plays an integral role in shaping the Company’s business strategy, financial direction, capital planning, and overall operations. Essential Duties and Responsibilities SENIOR MANAGEMENT Actively participate as a member of senior management to execute the company’s business strategy. Establish and maintain effective working relationships with the dealer principal, board of directors, family business council, president, COO’s, and senior management. Ensure compliance with the company’s vision, mission, and values. Coordinate the preparation of annual business plans for all departments, including forecasts for future business growth, general economic, industry, and financial conditions. Analyze financial operations and identify areas of improvement. Develop innovative and effective financing strategies to support Company operations and growth. Evaluate growth opportunities including valuation analysis, due diligence, financing, risk assessment, purchase agreement support, and post-acquisition integration planning. Develop and foster productive relationships with outside tax, legal, accounting, banking, insurance, and investment advisors as appropriate to support succession planning for ownership and management. FINANCIAL REPORTING Supervise the company’s accounting and financial reporting systems. Ensure financial statements fully and accurately represent the financial position of Company operations and comply with GAAP standards. Design, maintain, and enforce appropriate internal controls, approval authorities, segregation of duties, financial policies, and fraud prevention processes to safeguard Company assets and ensure the integrity of financial reporting and business practices. Ensure reporting compliance with government authorities and regulators, franchisors, and funding institutions. Engage and coordinate all audit functions as directed by the board of directors. Coordinate and supervise internal audits for compliance with Corporate financial standards and related Company policies and procedures. Develop and maintain financial dashboards, key performance indicators, variance analyses, and management reporting tools that provide Management timely insight into financial performance, profitability, liquidity, departmental results, and emerging business trends. RISK MANAGEMENT Supervise the company's risk oversight, including the identification, management, and remediation of physical, virtual, reputational, financial, strategic, and operational risks inherent in all Company operations. Engage and effectively manage physical damage, liability, and business operations insurance coverage, loss prevention, cybersecurity, etc. CASH MANAGEMENT Supervise the company's cash flow. Develop and review pro forma financial and cash flow forecasts to ensure adequate money supply for Company operations. Oversee customer account services, including the receivables process. Develop and maintain strong banking and lender relationships including credit facilities, borrowing capacity, debt obligations, lender reporting, covenant compliance, and other treasury activities. Administer the company's financial obligations, ensuring compliance with contract terms including accounts payable and payment schedules. INFORMATION TECHNOLOGY Supervise the company’s information technology (IT) program, including cybersecurity oversight, systems reliability, data protection, software and vendor management, disaster recovery planning, business continuity support, and technology initiatives. QUALIFICATIONS Bachelor’s degree in accounting, finance, business, or related field required; MBA and/or CPA preferred. Minimum of 10 years of progressively responsible experience in senior financial, accounting, or audit roles, with experience operating at a leadership level. Strong knowledge of GAAP, financial reporting, corporate compliance, financial analysis, acquisitions, and negotiations. Experience with business operations, information technology, and/or the heavy-truck or commercial vehicle industry preferred. Demonstrated ability to lead, develop, and retain high-performing teams while improving organizational effectiveness. Excellent communication, interpersonal, organizational, time-management, and decision-making skills. Ability to analyze complex business issues, develop sound financial and business-case recommendations, and communicate them effectively to senior leadership. Ability to work independently, manage multiple priorities, and operate effectively in a fast-paced, changing business environment. Willingness and ability to travel as needed for business purposes. Interested in Learning More? 180one has been retained by Kenworth Sales Company to manage this search. If interested in learning more about the opportunity, please contact Lisa Heffernan / 971.256.3076/ lisa@180one.com .
By Effie Zimmerman • September 16, 2026
General Manager- Leasing ABOUT THE COMPANY With roots dating back to 1938, The Papé Group is the West’s leading supplier of capital equipment solutions. Today, Papé operates across nine states with over 4,000 team members, proudly representing premier brands including John Deere, Kenworth, Hyster, Ditch Witch, and more. What sets Papé apart is its commitment to long-term relationships, both with customers and employees. As a fourth-generation, family-led business, Papé believes in the value of a handshake, the importance of service, and the impact of leadership that stays close to the work. Papé Kenworth is one of the largest Kenworth truck dealers in the Western United States, providing sales, leasing, rental, parts, and service for medium and heavy-duty trucks. Founded in 2007 as part of Papé Group, the division supports commercial fleets and owner-operators with a commitment to maximizing uptime through exceptional customer service, expert technicians, and a network of locations across the West. ABOUT THE POSITION Reporting to the President of the Papé Kenworth business, the General Manager (GM) of Leasing will be responsible for all Papé PacLease company operations and performance. General areas of responsibility will include business planning, profitable business growth, asset management and profitability, vehicle maintenance standards, and the profitable sale of vehicles at the end of the leasing term. Additionally, this position will oversee the short term rental fleet and lease return sales, contract maintenance, rental performance, and financial and personnel management for this division. This role demands a strategic mindset, operational oversight, and a strong leadership presence to guide branch teams in delivering outstanding service, sales, and profitability. Essential Duties and Responsibilities Develop and execute the overall strategic plan for the leasing division, including revenue, profitability, fleet growth, operational standards, utilization, customer service, and retention. Establish annual and long-term business plans, budgets, forecasts, and performance goals. Drive revenue growth while maintaining disciplined control of expenses and operating costs. Manage fleet acquisition costs, depreciation, residual values, financing costs, maintenance expenses, insurance, and other major components of leasing profitability. Oversee the acquisition, deployment, utilization, maintenance, and disposition of fleet vehicles. Develop and manage processes and procedures for management and tracking of assets, including accurate visibility into lifecycle costs and total costs of ownership. Lead and develop the sales team and strategies for sales and customer acquisition. Establish a disciplined sales process, pipeline process, and forecasting. Ensure compliance with all applicable federal, state, and local regulations. Recruit, develop, motivate, and retain a high-performing leasing organization. Collaborate with dealership leadership to create a unified culture and operating strategy for the Leasing business. CANDIDATE PROFILE The ideal candidate brings a proven track record of successful management experience in commercial truck leasing or dealership environments. Key strengths include: Proven track record of successful management experience within the dealership or leasing environment. Demonstrated experience in developing teams, setting performance goals, and achieving sales targets. Experience developing and executing sales strategies that consistently exceed revenue and profitability targets. Experience leading and developing standard operating procedures for lease operations, asset maintenance and utilization, customer qualification, lease structuring and pricing, long-term leasing contracts, and customer communication. Preferred Bachelor’s degree is preferred, or equivalent combination of education and progressively responsible industry experience. 10+ years of progressive leadership experience in truck dealership or leasing sales and operations. Minimum of 5 years in leadership roles. Interested in Learning More? 180one is an executive search firm and is assisting Papé Group in this search. If interested in learning more about the opportunity, please contact Tom Haley/ 503.334.1350/ tom@180one.com .
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