When attempting to explain why some underperforming CEOs avoid dismissal, scholars have often invoked CEO power as a protective mechanism. However, empirical inconsistencies regarding the role of power in CEO dismissal suggest limitations in current research and highlight the need for a deeper exploration of how power functions in this context. Building on classic power literature, which implies that having power does not equate to using power, and personality theories, which suggests that the ability to leverage power is likely a behavioral tendency shaped by personality traits, we adopt a configurational approach that recognizes that power and personality work in combination to generate outcomes. Utilizing fuzzy set qualitative comparative analysis (fsQCA), we identify multiple pathways through which poorly performing CEOs strategically leverage power to avoid dismissal. By integrating power and personality, our study advances scholarly understanding of CEO dismissal decision by revealing its complexity and contributes to the broader power literature by demonstrating the need to examine not only the possession of power but also its effective use.
