Ortus, a HR recruitment specialist, has recently reported that one in six board members in the FTSE 100 are over the age of 65. The average age for board members is 57. The oldest board belongs to gold and silver miner Fresnillo, with an average age for their board members of 65.
Capita, a services group, has the youngest board, with an average age of about 50. WM Morrison supermarket has a CEO who is only 45 and Tesco has one who is 53.
The research also looked at the female board members and found that they were younger than the male board members. Their average age was 55, compared to 59 for men. At Aberdeen Asset Management they have a board member who is only 40, Julie Chakraverty. The oldest female board member is at Pearson’s, with an age of 67.
With older colleagues continue to work much later than they used to, younger professionals are worried that they will be waiting longer and longer to make their way to the top. 37% of the 500 professionals who were interviewed with Ortus reported that they have resigned from their last job to advance their career prospects.
As Stephen Menko, the UK Director or Ortus said, “A lengthy spell learning the ropes for any top job further down the line, no doubt equips you better than having the most senior roles thrust at you early on in a career. Increasingly however, generation Y are hungry for seniority before their time. In an age where global organizations can be led by twenty-somethings such as 28 year-old Mark Zuckerberg, aspiration for rapid advancement has never been higher.”