I am learning a good deal from Stephen Bainbridge’s Corporate Governance After the Financial Crisis:
There seems little doubt that the monitoring model has influenced board behavior. In 1995, only one in eight CEOs [of those stepping down] was fired or resigned under board pressure. By 2006, however, almost a third of CEOs were terminated involuntarily. Over the last several decades, the average CEO tenure has decreased, which also has been attributed to more active board oversight.