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2019 Q3 CEO Transitions

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 third quarter of 2019, 11 S&P 500 companies reported the appointment of a new CEO.

  • The average age of the new CEOs is 53, and the average age of the departing CEOs is 58.
  • One of the incoming CEOs is a woman, as is one of the departing CEOs.
  • Eight of the new CEOs were promoted from within their companies, including six who were elevated as part of a planned succession. Two CEOs were hired from outside the company and one moved to the role from the board.
  • While five of the outgoing CEOs were formerly chair, only two stayed on the board in this capacity following the CEO transition.
  • Only one of the new CEOs has prior outside public company board experience, and none have prior public company CEO experience.