Top management turnover following mergers and acquisitions

Little is known about ihe effects of a merger or an acquisition on an acquired company s management team. This research follows the employment status of target companies ' top managers for 5 years from the date of acquisition. Results indicate that turnover rates in acquired top management teams are significantly higher than 'normal ' turnover rates, and that visible, very senior executives are likely to turn over sooner than their less-visible colleagues. Variations in top management turnover rates, however, are not accounted for by type of acquisition (i.e. related or unrelated)