12 Jul. 2011 | Comments (0)
- CEO succession rate In 2010, 51 CEOs in the S&P 500 left their post. The rate of CEO succession was 10.3 percent, consistent with the average number of annual succession announcements from 2000 through 2009.
- Departing CEO age and tenure In 2010, the average age of the departing CEO in the S&P 500 was 61, while the average tenure appears to have declined from approximately 10 years in 2000 to 8 years in 2010.
- Disciplinary and non-disciplinary departures During the 2000–2010 period, there was a declining trend in CEO retirements. The rate of retiring CEOs ranged from 37 percent of all successions in 2004 to 16 percent of those reported in 2008 (on average, 26 percent for the period). The decline in successions of departing CEOs of common retirement age suggests a corresponding increase in the number of disciplinary successions. From 2006 through 2009, which is roughly the period of the financial crisis, approximately 80 percent of all succession events were associated with CEO dismissals. In more recent months, the rate of CEO retirements has increased.