[CJP Insights] Homegrown Talent versus Laterally Hired

So Mr Ray joined the company as VP-Finance , this was the fifth job in his career trajectory. He was talented , bright and enthusiastic and the organisation didn’t mind paying a premium for the skillsets he brought on the table – he was a ‘plug and play’ profile – ready to deliver from Day 1
But his entry also brought in a lot of discomfort and discontent in the existing lot . Why was an outsider brought in when we had our growth aspirations . Wouldnt it have been wiser to promote talent from within, someone who has been loyal over the years . So acceptance amongst his juniors turned out to be a formidable challenge for Mr Ray.
What should be the ideal approach to handle such conflicts ?
Is it practically feasible for organisations to decide that they will hire only management trainees and make them grow to the CXO levels – which in turn calls for highly robust selection processes at campus recruitment stage as well as ‘active career management’, quick change of roles … So no lateral hires needed !!!
And what of existing talent pool in junior ranks isn’t bright enough to graduate to the next level . How can the organization convince them to rise above their ego and accept the lateral hires
How do you handle it in your organization