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News that Canadian Imperial Bank of Commerce CM-T has tapped bank veteran Harry Culham to succeed Victor Dodig as its president and chief executive officer helped drive the stock price higher this week.

The market likely views Mr. Culham’s institutional knowledge as key to ensuring continuity at CIBC as it navigates economic uncertainty. Still, the appointment is just one of several recent C-suite moves, across various industries, that have lifted investor expectations and spurred share prices.

Our analysts at The Successful Investor point out that CEO announcements often bolster goodwill in the short term. But only the best of them spur long-term gains whi

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