听力原文:

Picking the boss

迎接空降老板
The outside track

外部跑道
Why companies are appointing more outsiders as CEOs

为什么很多公司任命更多的外面的CEO
TO MAKE or to buy is perhaps the most basic question in business. This week a new report from Strategy&, an oddly named consulting division of PWC, an accounting firm, argues that a growing number answer “buy” when it comes to appointing bosses.

重点词汇：

1 PWC Price Waterhouse Coopers 普华永道

听力原文:

Strategy&, formerly Booz & Co, has been studying CEO succession in the world’s 2,500 biggest public companies for the past 17 years. It found that between 2012 and 2015 boards chose outsiders in 22% of planned successions, up from just 14% between 2004 and 2007. Looking at the numbers in a different way, in cases where outsiders were parachuted in, 74% of them joined as part of a succession that was planned in the 2012-15 period (up from 43% in 2004-07). Traditionally boards have turned to outsiders in the last resort—when they have to boot out incumbent CEOs or when the pipeline of internal candidates runs dry. The new statistics suggest that firms increasingly go for outsiders as part of regular succession planning.

重点词汇：

1 succession 交替；更迭
2 parachute 跳伞
3 resort 应急措施；可首先（或最后）采取的手段 the first/last/final
4 boot out 赶走；解雇
5 incumbent 在职者；现任者 注释：&Co,: Mckinsey & Company，麦肯锡先生和他的伙伴们，Bain & Company，贝恩先生和他的伙伴们，Company在此处表达 " 伙伴 " 的意思，而不是公司的意思。这种命名方式基本上全都是合伙人制公司，并且是成立时间较早的美国合伙人制企业。

听力原文:

Good reasons exist for this. Boards want leaders who can deal with powerful disruptive forces, such as new technologies and radical business models. Industries that have seen a lot of disruption from technological innovation or regulatory change are particularly keen on outsiders. In the 2012-15 period, outsiders made up 38% of incoming CEOs in telecoms, 32% in utilities, 29% in health care, 28% in energy and 26% in financial services. How far outside firms will go varies: in financial services almost all outsiders (92%) came from other financial firms; in utilities 72% of outsiders came from other industries.

重点词汇：

1 keen 渴望；热切；热衷于
2 utility 公用事业

听力原文:

Boards are more independent than they used to be, thanks largely to regulatory changes introduced after corporate-governance scandals early last decade. They are more likely to consist of genuine outsiders unencumbered by ties to the CEO and equipped with a wide range of contacts and perspectives. That makes it harder for bosses to anoint heirs apparent. Spencer Stuart, a headhunter, calculates that last year 84% of all board directors of S&P 500 firms were independent and 29% of boards had a truly independent chair. Strategy& says that only 7% of last year’s incoming CEOs were also named chairman of the board.

重点词汇：

1 genuine 真的；名副其实的
2 unencumbered 无负担的；没有阻碍的；不受妨碍的
3 anoint （如奉圣意般地）选定; 指定
4 heir 继承人；后嗣
5 apparent 显而易见；明白易懂；显然
6 headhunter 猎头者
7 S&P Standard & Poor's

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