Author: Hannah Gilchrist
Date: 03/03/2010
It’s unlikely that you’ll ever find a boss who’s perfect in every way, but in most workplaces the Mary Poppins effect is difficult to ignore.
According to new research by the financial website, The Motley Fool, even FTSE 100 companies struggle with the winning formula. Like investing, finding the perfect fit for your company matters more in the long-term. Businesses want someone who’s share prices increase with experience and take a company’s stock up with it.
The statistics show that the perfect age for someone to join as a CEO is 43, while only after five years do they start to make a difference, with optimum results visible after 14 years.
Yes, this does sound like finding a needle in a haystack, but as David Kuo, Director at The Motley Fool comments, it’s the combination of age and experience that is the key.
‘Finding a good CEO can be as difficult as digging for gold,’ he said. ‘As our analysis shows, CEOs needs time to grow into their role and showing them the door before they have even got their feet under the table could prove detrimental.
‘Understandably, many boards demand instant gratification from their CEOs. But our study shows that age is great, experience in the job is very important, but a combination of the two is vital if bosses are to deliver the best returns for shareholders.’
Based on The Motley Fool’s winning formula, newly appointed ITV boss Adam Crozier, could be the perfect fit for the future of ITV.