The average American CEO is now 61 [1], according to a working paper published by the National Bureau of Economic Research (NBER).

This shift in leadership demographics suggests a potential decline in corporate agility. Older leaders tend to manage businesses that grow more slowly and are less likely to radically innovate [1].

The study analyzed a sample of 50,510 CEOs [3] to determine trends in executive leadership age. The findings show a significant increase from two decades ago, when the average age of an American CEO was around 51 [2].

Corporate boards are now appointing leaders who are further along in their careers. This trend toward older executives has occurred across the U.S. corporate landscape.

While the NBER paper identifies the aging trend, it also highlights the connection between executive age and business performance. The data suggests that companies led by older CEOs may experience slower growth rates compared to those led by younger counterparts.

This aging trend in the executive suite is not an isolated incident but a reflection of broader demographic shifts in the professional workforce. Boards of directors may be prioritizing experience over the agility and risk-taking associated with younger leadership.

Because the research was published as a working paper, it provides a snapshot of the current state of corporate America. The findings indicate a decade-long shift in the average age of those at the helm of U.S. companies.

“The average American CEO is now 61”

The increase in the average average age of CEOs suggests a shift in corporate governance toward risk aversion. By prioritizing experienced leaders over younger innovators, U.S. companies may be facing a structural disadvantage in sectors requiring rapid technological adaptation and radical innovation.