Abstract:In turnaround research, the most authors argue that a precondition for all successful turnarounds is the replacement of the current CEO of the firm in question. But this paper think the essence of CEO change is reforming cognition frame of strategy, in fact, that is the assume of strategy. Because the severity is very different, and the reasons is very complexity, so turnaround process may not need radically change the current strategy of firm. Perhaps CEO change is not a precondition of turnaround.