"As recently as 2024, more than one in five new CEOs had already led a public company. That share fell sharply in 2025. Of the 140 first-time CEOs appointed, 116 had no prior enterprise CEO experience. Two-thirds had never served on a public company board, meaning many are stepping into the role without prior exposure to shareholder oversight or public company governance."
"The shift is most pronounced among mid-cap companies, where 89% of new CEOs were first-timers, up from 76% the year before. Industrial and financial services companies were particularly likely to elevate rookies, with 90% of incoming CEOs in those sectors stepping into the top job for the first time. Healthcare and technology companies were somewhat more likely to choose leaders with prior public-company CEO experience."
168 new CEOs were appointed in 2025, the highest total since 2010. Among incoming leaders, 84% were serving in their first enterprise CEO role, reversing a tilt toward public-company veterans. Of the 140 first-time CEOs appointed, 116 had no prior enterprise CEO experience and two-thirds had never served on a public company board. The trend was strongest in mid-cap firms and pronounced in industrial and financial services, while healthcare and technology firms more often selected experienced public-company CEOs. Average CEO tenure fell to 8.5 years in 2025, and nearly 40% of S&P 1500 CEOs leave within five years. Experienced CEOs remain valuable in crises, while first-time CEOs can deliver stronger long-term performance.
Read at Fortune
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