Leadership Gap Looms Over Nordic and Benelux Boardrooms

Leadership Gap in Nordic and Benelux Boards

New data reveal a widening leadership gap across the boardrooms of Sweden, Denmark, Finland, Norway, the Netherlands, Belgium and Luxembourg. A Heidrick & Struggles 2026 survey of 1,033 CEOs and directors shows that ↓ 50% of executives in these markets doubt their chief officer’s ability to meet strategic demands in the next two to three years, double the EU average.

Why Tenure Matters

CEOs linger longer in the region: Belgian heads average ↑ 9 years, Swedish and Norwegian leaders sit for seven years, while Finnish chiefs turn over after just 2.5 years. Spencer Stuart data confirm Norway’s turnover was zero in 2025, versus 18 in France.

“Boards struggle to find CEOs who blend tech insight, commercial acumen and transformation experience,” says Martin Hartley of emagine.

The consensus‑driven governance model, praised for its collaboration, may be amplifying the problem. Employee representatives and supervisory boards force decisions through multiple layers, encouraging candor in surveys but also slowing response to market shocks.

Insiders dominate appointments. In the Netherlands, internal candidates now spend nearly 15 years before ascending to CEO, up from 9.5 years in 2023, according to Heidrick & Struggles. While internal knowledge is valuable in stable periods, external hires have outperformed during turbulence, as illustrated by Heineken’s 2026 break from tradition when Rafael Oliveira, a non‑brewer, took the helm.

Experts argue the remedy lies in dynamic succession planning. Esha Mendiratta of Vlerick Business School urges boards to keep several potential successors in view and to assess the entire C‑suite, not a single heir. She warns that naming a successor too early can lock in outdated skill sets.

Ultimately, the “leadership gap” is less about a lack of talent and more about mismatched expectations in a fast‑changing environment. As geopolitical tensions, energy price volatility and AI disruption reshape industry, boards that cling to legacy processes risk stagnation. Reuters and Bloomberg note similar trends across Europe, underscoring the urgency for a new governance playbook.