Ireland leads global index with younger than average CEO appointments in 2023.
ISEQ-listed businesses have appointed younger CEOs than average worldwide, with 44% appointed before the age of 45.
This is double the global average of 22%, according to the latest Heidrick & Struggles’ Route to the Top report.
“The market’s not just comfort with, but tendency for appointing younger CEOs underpins the national business community’s confidence in fostering a more youthful leadership approach and embrace of innovative thinking”
The report says that Ireland is an outlier from international averages by appointing younger CEOs for publicly listed companies at a higher rate than the global average, indicating a progressive approach to leadership development and succession planning in the country.
Youthful leadership
This divergence from traditional leadership paradigms shows that Ireland’s top public companies have a willingness to embrace fresh perspectives and adapt to evolving business landscapes.
Stafford Bagot, partner in Heidrick & Struggles’ Dublin office said the rise in younger CEO appointments injects a sense of dynamism and energy into Ireland’s corporate sector.
He said this marks a trend towards a more vibrant and forward-looking leadership culture, poised to capitalise on emerging opportunities and navigate complex challenges with agility and creativity.
He said it is evident that those who ascend the ‘route to the top’ must demonstrate the ability to lead across boundaries, borders, markets and cultures.
The report reveals that overseas hires now account for 22% of ISEQ CEO appointments. This figure, on a slight decline from last year’s 29%, reflects a positive trend from the 10% reported in 2020.
Bagot said the data underscores a progressive shift towards the integration of global expertise within Irish corporate leadership circles, whilst also signalling Ireland’s professional appeal to talent worldwide.
“The report findings, particularly in the context of 27 markets tracked, showcase Ireland’s dynamic leadership landscape,” said Bagot.
“The market’s not just comfort with, but tendency for appointing younger CEOs underpins the national business community’s confidence in fostering a more youthful leadership approach and embrace of innovative thinking.
“As Ireland continues to position itself as a world-leading hub for innovation and opportunity, attracting top-tier international talent and leadership will also remain a key priority for organisations seeking to thrive in today’s competitive market,” Bagot added.
