Nordic and Benelux boards doubt CEOs’ ability to meet future challenges

According to Heidrick & Struggles’ 2026 Route to the Top poll of 1,033 CEOs and directors, confidence in chief executives is especially low in the Nordic and Benelux markets, with half of respondents doubting their leaders’ suitability for the next two to three years. The study links this gap to unusually long CEO tenures—nine years on average in Belgium and seven in Sweden and Norway—and a cultural tendency to promote from within.

Analysts argue that such continuity may leave boards ill-equipped to navigate rapid shifts in technology, geopolitics and energy costs. The report also notes that external hires tend to outperform insiders during turbulent periods, a point underscored by Heineken’s recent appointment of an outsider after decades of internal succession. Experts recommend boards keep multiple succession options open and assess the broader C-suite rather than focusing solely on a single heir. Without such adjustments, decision-making could stall and transformation momentum may fade.