Many organizations invest significant resources in preparing executives for the strategic, operational and governance demands of senior leadership. Often overlooked amid the flurry of activity surrounding the onboarding of a new executive is one of the most consequential shifts new C-suite leaders face: the collapse of their existing peer network. 

While losing friends at work may seem like a secondary issue, the collapse of one’s peer network and the need to rebuild or rethink it are by no means minor concerns. By one estimate, over half of executives experience significant loneliness, and as Hakan Ozcelik and Sigal G. Barsade found in their 2018 study, loneliness at work isn’t just a matter of feelings; it is also correlated with lower performance.

Should incoming CEOs simply retain the executive teams they inherit, or should they bring in new leaders who aren’t attached to past practices and outcomes and may be much better equipped to execute on current priorities?