Buffett Stands Alone, but Companies Should Open Door to Older CEOs

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Buffett Stands Alone, but Companies Should Open Door to Older CEOs
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“Happy birthday, now leave.” Why mandatory retirement policies in the C-suite deserve a rethink.

Saturday, the reality is that most CEOs will never be able to approach that tenure. Some 70% of S&P 500 companies had a mandatory retirement age in place for corporate directors as of December, according to executive search firm Spencer Stuart. Other research suggests such policies are in place for perhaps a third of S&P 500 chief executives.

While many won’t last in a top job nearly long enough to see such a policy invoked—the average S&P 500 chief executive retires at 60.1 years old after a tenure of about 8.4 years—perhaps the practice needs a rethink in an era when once-unthinkably long lifespans are commonplace.last week, which means he can stay in the top job until 2028. Boeing cited his leadership through the recent 737 MAX crisis and the jet engine maker’s long product cycle when it announced the decision.

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