Spencer Stuart tracks CEO transitions among S&P 500 companies reporting transitions on a quarterly and annual basis. A CEO transition is defined as the replacement of an outgoing CEO with a permanent CEO for the purposes of our analysis. The data set includes: names of incoming and outgoing CEOs; the reason for the departure of the former CEO, as reported by the company; the estimated ages of both the outgoing and incoming CEOs; and whether the new CEO was promoted from within or hired externally.
In the first quarter of 2019, 18 S&P 500 companies appointed a new CEO. Among the highlights from this past quarter:
The average age of the new CEOs is 56, and the average age of the departing CEOs is 60.
One of the new CEOs is a woman, and one female CEO left her role.
Ten of the 18 newly appointed CEOs have prior public board experience.
The majority (14) of the new CEOs were promoted from within their companies. Nine of these were promoted from the president and/or chief operating officer roles.