Tootsie Roll Succession Puts Spotlight on Aging CEO Ranks
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The death of Tootsie Roll Industries Inc.’s 95-year-old chief executive officer is casting a spotlight on the graying ranks of American CEOs and board members over the past decade.
The average age of a CEO in the Standard & Poor’s 500 Index increased to 56.9 last year from 55.3 in 2004, according to Spencer Stuart, an executive-recruiting company. Typical CEOs have spent 18.3 years with their companies, compared with 14.8 a decade ago, Spencer Stuart found.