Today: Jun 14, 2024

Older CXOs sought as covid startup wave fades.

5 months ago

In the midst of the COVID-19 pandemic, many younger executives were promoted to CEO positions within startups. However, as the startup wave has begun to ebb and funding becomes scarcer, companies are now looking for older, more seasoned executives to lead their organizations. According to a study by search firm Accord India, the average age of CEOs decreased to 46.6 in 2021 but rose to 49 in 2023. Established companies made 85% of top hires in 2023, while startups accounted for only 15%. Sectors such as fintech and startups previously sought younger leaders but are now realizing the value of experienced executives who can handle crises. HR heads and CFOs are in high demand, according to the study. Overall senior hiring dropped by 7% in 2023, but CEO recruitment saw a 21% increase. The age profile of CEOs has shifted as companies prioritize leadership experience and the ability to navigate uncertainty.