The 2021 New CEO Report
Feigen Advisors is pleased to release the eighth edition of our annual New CEO Report, profiling the 28 new chief executives in the top 250 companies in the S&P 500, providing a unique view into the leadership transitions at our largest and most valuable enterprises.
Key Findings from the 2021 New CEO Report
28 New CEOs in 2021, 225 New CEOs over the past Eight years
2021 welcomed 28 new CEOs in the S&P 250. This compares to a high of 33 in 2020 and a low of 23 in both 2018 and 2016.
CEO tenure at our largest companies is nine years – nearly twice as long as the broader market
Average CEO tenure is nine years. A recent PwC Strategy& CEO Success Study of the largest 2,500 companies found that the median CEO tenure was only five years. By contrast, the median tenure of a CEO in the S&P 250 who exited between 2014 and 2019 is 8.5 years, demonstrating stability at the top of the country’s largest companies.
82% Were promoted internally
In the last six years, 82% of companies appointed their new leader from within their own ranks, a sign of health and stability.
New CEOs tend to have significant company experience
On average, new CEOs promoted from within spend 20+ years at their companies prior to promotion and have deep expertise and understanding of every aspect of their business, including strategy, operations, capital management, and people.
There are too few women
Only eighteen women became CEO of S&P 250 companies in the last eight years.