In some ways, the profile of those at the top of the world’s largest companies has not changed in the last 40 years.
In 1980, the average CEO was 55 years old, with about 28 years of experience: today, the figures are essentially the same.
What has changed is the curriculum vitae of these executives.
Among the Fortune 100 companies, only 19% of executives have spent their entire careers at a single company, a dramatic change from the 44% in 1980.
In essence, an executive’s career is aligned with everyone else’s.
The percentage of employees who have worked for the same company for more than 10 years has dropped dramatically, with no differences in gender or age group.
Two factors played an important role in this phenomenon.
CEOs, and managers in general, with a diversified experience are increasingly appreciated, and professionals who have navigated difficult corporate environments, completed mergers or launched a business in new markets are increasingly sought after, all things that are difficult to find in an exclusively “internal” career path.
At the same time, it is advisable to be cautious: it takes time for a manager to adapt and build real trust with his collaborators, just as it takes time (perhaps a little less) for him to learn where to make coffee and where to park the car.
Therefore, there is not just one model, but certainly the shift towards a more “external” perspective is evident and strengthening.