Boomers Are Hanging Onto CEO Positions Like Grim Death

Via a long string of sources starting with Tyler Cowen, here is a chart from Crist Kolder Associates:

What this means, roughly speaking, is that for the past 15 years big companies have been hiring CEOs who were born in 1960 and only 1960, give or take a couple of years. In other words, corporate boards are continuing to hire CEOs from the tail end of the baby boom generation come hell or high water. They simply don’t want to break the age barrier and start hiring Gen Xers.

This will change shortly, of course. There’s no choice. But it says something remarkable that apparently the boards of big corporations are really, really uncomfortable with putting their companies into the hands of Xers. So instead they’ve been hiring older and older CEOs, to the point where today the average CEO is being hired only a few years before they might be expected to retire.

So what, if anything, happens when this finally breaks down and a majority of big companies are finally run by Gen Xers? Beats me. But apparently there are a lot of boomers who really don’t want to find out.

A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

payment methods

A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate