"The average age when a CEO nabs the job rose as well, to 55 from around 47. The U.S. population is graying, but this trend isn't simply about demographics: The average age of a college-educated worker rose only two years over the same period."
"Companies, particularly small ones, appear to want older leaders with longer and more diverse career paths. The analysis finds that rising economic uncertainty and complexity make generalist skills more valuable."
"Even though these generalists are prized at the top of the ladder, companies are fostering fewer of them now, as entry level hiring has slowed. That means the value of older generalist CEOs is only rising."
Research shows a trend towards hiring older leaders, especially in smaller, privately held companies. The average age of S&P 500 CEOs has increased to 58.5 years. The average age of CEOs at hiring has also risen to 55. Companies value older leaders with diverse career paths, as they possess generalist skills that are increasingly important in a complex economic environment. However, fewer generalists are being developed due to slowed entry-level hiring, leading to a rising premium on older generalist CEOs.
Read at Axios
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