A Record Number of Companies are now ditching old CEOs!

 

The largest public companies in the U.S. are currently switching CEOs at a record pace, with many favouring younger and less experienced appointees over older heads. Roughly one in nine corporate CEOs were replaced at 1,500 of the biggest publicly-traded businesses over the course of 2025, the highest rate of turnover since 2010 when the economy was recovering from the previous year’s financial crash, The Wall Street Journal (“WSJ”) reports.

 

Citing analysis from a report by the executive-recruiting firm Spencer Stuart, the newspaper notes that, in the final quarter of last year alone, companies with a combined market capitalization of $1.3 trillion put new faces in charge, with Verizon and Yum Brands, which owns KFC, Pizza Hut and Taco Bell, among those opting for new executive leadership.

 

Source: https://simple.wikipedia.org

 

That trend has continued into 2026, with Walmart, Procter & Gamble and Lululemon among the companies that have moved quickly to make a change at the top in 2026.

 

In February, Disney, HP, and PayPal moved to unveil new bosses on the same day – announcements that were swiftly followed by the news that Greg Foran would be taking over the hot seat at the grocery giant Kroger. Walmart is just one of the major publicly-trade companies to have switched its CEO of late, responding to an ever more complicated landscape.

Businesses currently seeking new CEOs this quarter, or resigned to losing their existing executives, have a combined value of $2.2 trillion, the WSJ reports. Spencer Stuart’s findings suggest that incumbent CEOs are stepping down sooner than in the past and that their replacements are younger than before, with the average age at 54, down from 56 a year previously.

 

More than 80 percent of the 168 people appointed to chief executive positions in 2025 were first-timers who had no prior experience running public companies or major stand-alone enterprises. Two-thirds of that total had never even served on a corporate board.

 

An emblematic example of the trend towards youth is Paul Shoukry, the recently appointed head of the financial services firm Raymond James, who is 42, while his predecessor, Paul Reilly, was 55 when he first took the job in 2010.

Disney’s new CEO Josh D’Amaro, 55, is also considerably younger than the outgoing Bob Iger, who is 75. However, like Shoukry, the new man has considerable experience within the company, having led its $36bn theme-park and cruise unit.

 

While 3 percent of chief executives at top companies are now under 40, according to Spencer Stuart’s data, one is still much more likely to encounter an executive aged 50-59 (64 percent) or over 60 (12 percent).

 

The situation remains uninspiring for women, however, with just nine percent of new appointees to CEO positions female, down from 15 percent a year earlier.

 

The WSJ characterizes the recent changes in hiring practices as “a grand experiment in leadership” in response to a dramatically shifting global landscape, facing up to the post-pandemic challenges and headwinds presented by disruptive political forces and the rise of artificial intelligence.

 

In Malaysia, many GLCs or GLICs are run by those under 50 (and maybe now under 60). Only family businesses have CEOs in the 70s. So, Malaysia must be ahead of the U.S.? No matter, you need the energy of the young and wisdom of the old.

 

Reference:

Record number of companies are ditching old CEOs for younger, less experienced execs,

Joe Sommerlad, Independent, 16 February 2026