Spencer Stuart tracks CEO transitions among S&P 500 companies on a quarterly and annual basis. For the purposes of this analysis, a CEO transition is defined as the replacement of an outgoing CEO with a permanent CEO. 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.
During the second quarter of 2019, 13 S&P 500 companies reported the appointment of a new CEO. Among the highlights from this past quarter:
- The average age of the new CEOs is 52, and the average age of the departing CEOs is 62.
- Three of the new CEOs are women, and all the departing CEOs are men.
- Eleven of the new CEOs were promoted from within their companies as part of a planned succession.
- The new CEO was not given the additional role of board chair in any of the transitions.
- Four of the new CEOs have prior outside public company board experience.