The Role of CEO Experience and Focus on Firm Performance

Goran Vlasic (), Zoran Krupka () and Kristijan Keleminic ()
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Goran Vlasic: University of Zagreb Faculty of Economics and Business
Zoran Krupka: University of Zagreb Faculty of Economics and Business
Kristijan Keleminic: University of Zagreb Faculty of Economics and Business

Tržište/Market, 2025, vol. 37, issue SI, 25-46

Abstract: Purpose – This paper investigates how CEO characteristics, strategic focus, and willingness to cannibalize influence firm performance across various dimensions, including profitability, return on investment (ROI), revenue growth, and innovation. Design/Methodology/Approach – Data were collected through a structured questionnaire administered to 315 firms, targeting top management respondents. Multiple regression analyses were conducted to assess the effects of CEO experience (breadth and depth), strategic focus (financial, marketing, optimization), and willingness to engage in market and technology cannibalization on firm performance. Finding and Implications – The breadth of CEO experience significantly and positively influences all performance dimensions, particularly innovation. A marketing-oriented strategic focus emerged as the most consistent predictor of superior outcomes across all metrics. Willingness to cannibalize markets positively affects ROI, revenue growth, and innovation, whereas willingness to cannibalize technology showed no significant effect. A financial focus did not yield statistically significant results. These findings offer strategic insights for firms seeking to enhance performance through leadership development, market adaptability, and innovation. Limitations – The study’s main limitation lies in the use of subjective performance measures and a cross-sectional design. Future research should incorporate longitudinal approaches and objective performance data to strengthen causal inferences. Originality – This research integrates diverse theoretical perspectives into a unified model and provides new insights into how combinations of CEO leadership traits and strategic orientations contribute to firm success. It highlights the role of managerial adaptability and market focus in driving superior organizational outcomes.

Keywords: CEO characteristics; strategic focus; market orientation; cannibalization; innovation (search for similar items in EconPapers)
Date: 2025
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