Leadership transitions often look clean on paper. Inside the business, they rarely are.
UnitedHealth’s decision to bring back its former CEO may seem logical. Safe, even.
But it also signals what’s missing:
Confidence.
Cohesion.
And possibly, a credible succession plan.
When a company reaches into the past for its succession solution, the issue usually isn’t just the business model — it’s leadership.
Too often, the roots of decline trace back to the returning CEO — because they and the board selected a successor who didn’t deliver.
We’ve seen this across sectors.
Returning CEOs often underperform.
Not because they’ve changed — but because the business and the market have.
The context shifts. The playbook doesn’t fit.
And nostalgia doesn’t drive results.
At Eagle Talon, we treat leadership as an investment variable — as critical as cash flow and capital allocation.
When the numbers stop working, we don’t just study the business.
We start with the people.