| CEO Turnover, Outside Succession, and Board Composition by Year | ||||||||||
| Board | ||||||||||
| Number | Outside CEO Appointments | Composition: | ||||||||
| of | Percent | Mean Percent | ||||||||
| Year | Successions | Number | Total | Outsiders | ||||||
| 1970 | 9 | 5 | 55.6% | 68.3% | ||||||
| 1971 | 53 | 9 | 17.0% | 65.5% | ||||||
| 1972 | 52 | 9 | 17.3% | 62.0% | ||||||
| 1973 | 49 | 7 | 14.3% | 66.8% | ||||||
| 1974 | 47 | 11 | 23.4% | 67.7% | ||||||
| 1975 | 47 | 7 | 14.9% | 63.7% | ||||||
| 1976 | 47 | 10 | 21.3% | 70.1% | ||||||
| 1977 | 49 | 6 | 12.2% | 69.0% | ||||||
| 1978 | 52 | 12 | 23.1% | 67.9% | ||||||
| 1979 | 58 | 11 | 19.0% | 67.8% | ||||||
| 1980 | 58 | 9 | 15.5% | 73.8% | ||||||
| 1981 | 55 | 9 | 16.4% | 72.5% | ||||||
| 1982 | 47 | 7 | 14.9% | 70.9% | ||||||
| 1983 | 63 | 5 | 7.9% | 73.6% | ||||||
| 1984 | 54 | 10 | 18.5% | 76.0% | ||||||
| 1985 | 61 | 21 | 34.4% | 77.4% | ||||||
| 1986 | 52 | 7 | 13.5% | 74.3% | ||||||
| 1987 | 59 | 15 | 25.4% | 74.0% | ||||||
| 1988 | 57 | 17 | 29.8% | 75.6% | ||||||
| Total | 969 | 187 | 19.3% | 70.7% | ||||||