While the multidivisional form can foster efficient organization of diverse lines of business, it requires a complementary mechanism to share resources across businesses. This study explores whether the transfer of executive managers across business divisions is driven by inter-divisional resource sharing, and how external market conditions shape the relative advantage of inter-divisional executive transfer over alternatives like within-division appointment or external recruitment. Focusing on Korean business groups, our empirical analysis reveals that the availability of corporate-level resources and given exchange relationships among business divisions influences inter-divisional executive transfer. We also find that intensified product market competition and stronger external capital market control diminish the value of inter-divisional executive transfer and instead promote external recruitment of executives.