American CEOs now average 61 years old, up from around 51 two decades ago, according to a study published April 28 by Axios. [1]
The researchers said they examined a database of more than 50,000 leaders. They found the age at which executives reach the top job has also climbed, to 55 from around 47. [1]
The report said older leaders tend to run businesses that grow more slowly and are less likely to make radical bets on innovation, but they may be better suited to steer companies through uncertain economic periods. Farzad Saidi said, "These \"generalists\" are really good at managing" and added, "The premium will only increase." [1]
The trend is not just the result of an older population. The average age of a college-educated worker rose only two years over the same period, the report said. It also said CEOs today have held more jobs across more companies before reaching the top role. [1]
The pattern is strongest at smaller, privately held companies, where older leaders are more common. At S&P 500 companies, the average CEO age was 58.5 in 2023, up from 56 in 2000. [1]
The article also said Congress is aging. It described the current Congress as the third oldest ever, with an average Senate age of 63.8 and an average House age of 57.7. [1]
The report was published on April 28. [1]
