New CEOs are faced with a bewildering array of choices, so it’s crucial for them to take a data-driven look at potentially major moves—and to know when to make them.How does a new CEO get off to a great start? The best leaders move boldly and swiftly to transform their companies as they are transitioning into the new role. In this episode of the McKinsey Podcast, partner Michael Birshan and associate partner Thomas Meakin talk with McKinsey Quarterly editor in chief Allen Webb about their research into the strategic moves of nearly 600 CEOs, as well as how those moves influenced company returns and the CEOs’ tenure. An edited transcript of their conversation follows.Podcast transcript

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