Time for boardrooms to look beyond age and experience in new CEOs: Beth Kowitt

In the often opaque realm of corporate boardrooms, Spencer Stuart's recent data on CEO transitions sheds light on a concerning trend. The average age of incoming S&P 500 CEOs in 2023 hit a record 56.4, signalling a cautious, risk-averse approach by boards. While experience and stability are prized, the study warns against over-reliance on seasoned CEOs. Research suggests that first-time CEOs outperform repeat CEOs over the long term, emphasising the need for adaptability in an ever-evolving business landscape. Boards must resist clinging to outdated paradigms and consider fresh leadership approaches.

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By Beth Kowitt

The corporate boardroom is one of the most opaque places in US business. It's here that directors wrestle with the sensitive and contentious issues they'd rather shield from the public eye — compensation, crisis management, talent development, corporate culture and those now incendiary acronyms, DEI and ESG.

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