Executive recruiter CTPartners surveyed its clients and found more than half would hire a qualified 72-year-old CEO. That’s the age Republican presidential nominee John McCain will be if elected in November.
McCain would also become the oldest candidate elected president. Ronald Reagan was 69 when first elected in 1980 and 73 when re-elected to the nation’s highest office.
According to CT Partners’ survey of 158 senior executives, 53 percent say they would hire a qualified 72-year-old CEO; 47 percent said they would not.
The split, said CTPartners’ Chairman and CEO Brian Sullivan, reflects the uncertainty of hiring older CEOs, especially for what arguably is one of the toughest jobs in the world.
“Companies recognize that an older CEO might bring valuable experience to help guide them, especially through a tense economic environment. But companies also want to invest in CEOs who will contribute over the long term,” he said.
Sullivan added that companies must weigh qualifications against corporate priorities.
“There is no substitute for experience, the more the better,” Sullivan said in an email. “The only way to get 20 years experience is by spending the time, which gives one the vision and confidence to realize that both good and bad times come and go. As a CEO’s role is to protect and grow assets, it is this experience that helps them know how and when to do these different strategies.”