IME internally promoted EMs are 4x better. They understand what problems the team is facing, how the product works, the various interactions with other teams, a

IME internally promoted EMs are 4x better. They understand what problems the team is facing, how the product works, the various interactions with other teams, and the company processes. It takes at least a year for an external hire to ramp up to that level of familiarity. I will say that for very dysfunctional teams it could be valuable to get an outside perspective which can do more severe change but hopefully this is less common.