In the first half of 2005, more than 770 CEOs left their jobs—a full 90% higher than turnover the previous year. And according to one survey, with the easing of the job market, a whopping 96% of currently employed senior executives expect to change companies…within a year. Another survey of middle managers found that 48% were currently job hunting or planned to start looking as the job market improves.
(Introduction, SUDDEN IMPACT)

In Susan Quandt’s SUDDEN IMPACT ON THE JOB: Top Leaders Reveal the Secrets for Fast Success (Jossey Bass; October 1, 2006; ISBN 0787978388) CEOs share experiences from their first 18 months on the new job. Through surprising personal stories, 14 CEOs from top companies share the good and bad situations that come with beginning a new job. For example:

Jamie Dimon encountered a mostly hostile boardroom his first day as CEO of Bank One (now JP Chase) where most directors wouldn’t even acknowledge his presence. In addition, the company was in worse shape than he was led to believe.

Peter Dolan underestimated the very public nature of his job when he first took the reins at Bristol Meyers Squibb. Their large investment in ImClone led to many questions from the press about Martha Stewart and why she was selling her shares and they were not.

Dave Vander Zanden suddenly became CEO of School Specialty when Dan Spalding, his boss and close friend, died unexpectedly. Vander Zanden was second in command for three years prior to his role as CEO.

The difficult tasks of walking into a hostile environment, facing unforeseen obstacles and making tough decisions are familiar to most managers. It is no different at the top, but sometimes embarrassing and lonelier than most of us would imagine. Quandt’s ability to listen and ask questions that had never been asked before reveals the surprisingly human side of these CEOs.

By looking at the problems and challenges of some of the world’s high-profile business leaders, this book details what they wish they had known before taking the jobs and how they chose to resolve these issues. The insights gleaned from Andrew Liveris/Dow Chemical Pat Russo/Lucent Technologies, Ed Zander/Motorola, Jay Amato/Viewpoint, Dick Notebaert/Qwest, Stephanie Streeter/Banta, Stephanie Burns/Dow Corning led Quandt to challenge long-held beliefs about what to do for fast impact on the job and develop a short list of what not to do. This book provides provocative, behind-the-scenes information that can be translated to any new manager’s situation.