Abercrombie & Fitch, Deloitte, Apple, Target …. the list of companies that changed CEOs in 2014 includes many well-known names.
Among the S&P 500, Spencer Stuart reports that there were 52 changes at the CEO helm in 2014. Of them, volunteer departure was the dominant explanation, although those numbers may be inflated due to the fact that CEOs are often ‘forced’ to resign.
The top 100 of the group represented the most transitions, at 31%. Fully 67% of the 52 companies reported CEO retirement as the reason for the step-down.
Youth and vitality appears to be an issue. The average age of an outgoing CEO was 67, while the average age of an incoming CEO was 53, Spencer Stuart reports.
Just one of the CEOs on the 2014 S&P 500 list was a woman, but again, that could be skewed as there are many more men on the S&P 500 list than women.
Fully 81% of succession candidates came from within, which shows the level of dedication in training and cultivation that these larger organizations are committed to.
Furthermore, Spencer Stuart reports, 87% of companies chose to split the CEO and chairman responsibilities. They say this is the first decrease in those numbers in four years.
Read the entire report here.
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