Excerpt from CNBC – July 21, 2014
Elaine Hughes, founder and CEO of executive search firm E.A. Hughes, said the problem is far too prevalent in the industry.
“Part of the [retail CEO’s] responsibility is to create succession planning,” Hughes said. “They get a little confused, particularly in publicly traded companies. They think the name on the door is theirs and it’s not.”
…But another factor behind retail’s more limited talent pool is that many young people with financial knowledge opt to work on Wall Street or in private equity, she said.
“A lot of young people don’t necessarily see retail as a burgeoning career,” E. Hughes said.
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Article by CNBC’s Krystina Gustafson