Academic Research Skills (032024-NFI) Async

I was once having dinner in a local restaurant, and the entire restaurant suddenly quieted. The new CEO of the largest employer in town and his team walked in. You could sense the tension. At the time, I worked for a 150-year old athletic apparel company, Russell Corporation, which had a history of developing internal talent and promoting from within. Although the company had past success, shareholders were concerned about new challenges on the horizon. Instead of promoting someone they had spent years developing, they hired an executive leader from a competitor. What is your opinion about this?

Adopted from https://www.inc.com/ben-fanning/these-3-companies-all-hired-outside-leaders-and-then-their-performance-tanked.html