2011 CEO Succession Report,
a new addition to The Conference Board’s research portfolio, is now available for purchase and download
on The Conference Board Web site. Members of The Conference Board can download a complimentary copy of the report by logging on to the Web site
Written by Matteo Tonello, director of corporate leadership research for The Conference Board, and Jason Schloetzer, assistant professor at the McDonough School of Business at Georgetown University, the 50-page report documents and analyzes succession events regarding the chief executive officer in S&P 500 companies in the 2009-2010 period and includes, where appropriate, historical comparisons with data from the last decade. It is being made possible by the support of CTPartners.
The following are some of the key findings described in the 2011 CEO Succession Report
released by The Conference Board. The report documents and analyzes succession events regarding the chief executive officer in S&P 500 companies from 2009-2010. For a full listing of the key findings, click here
- 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.