The company lacks credibility with investors. A marquee name may be needed to allay concerns about company performance. An insider would most likely be viewed as a continuation of the previous regime. An insider, with long-term relationships and psychological bonds, will not have as much freedom to break from the past. The company must make a major shift, such as going from a domestic to a global business.
Experience is key.
It is best to look for someone who has led another company through such a shift. He was named as Best Teacher by Northwestern's Kellogg School and as a top-rated executive educator by Business Week.