American CEOs are getting older
Summary
The average age of American CEOs has increased from about 51 to 61 over the past 20 years. Older CEOs tend to lead companies more cautiously but manage well during uncertain times; this trend is stronger in smaller businesses.Key Facts
- The study analyzed over 50,000 U.S. CEOs.
- Small, private companies are more likely to hire older CEOs than big corporations.
- The average age of CEOs in large companies (S&P 500) is 58.5 in 2023, up from 56 in 2000.
- CEOs now become leaders at about 55 years old, compared to 47 years old two decades ago.
- Today's CEOs often have more diverse job experience across several companies before becoming CEO.
- Economic uncertainty makes CEOs with broad experience more valuable.
- Although experienced CEOs are prized, fewer young leaders are being developed given slower hiring at entry levels.
- Aging leadership reflects a broader trend affecting various careers, including politics and science.
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