Source: Fortune
Summary
Companies like Cracker Barrel, Verizon, and Boeing are hiring retired CEOs to fill top positions. Data shows that 34% of CEOs appointed by S&P 500 companies in the first half of 2026 previously led a public company. The trend is attributed to the lack of succession planning and the increasing average age of CEOs. Executive search firms note that companies are prioritizing proven leaders, but this approach can be seen as “kicking the can down the road” rather than developing internal talent.
Our Reading
The numbers tell one story. Retired CEOs are being hired at a higher rate, with 34% of S&P 500 companies appointing former CEOs in the first half of 2026. This trend is not limited to CEOs, as companies like Apple are also hiring back retired executives. The average CEO age has increased by 10 years to 61, causing companies to look outside for talent. The approach raises questions about succession planning and the development of internal leaders.
As Shawn Cole, president of Cowen Partners, notes, turning to retired CEOs “feels like the easy button to press” due to the lack of internal candidates. However, this approach can be seen as a short-term solution rather than a long-term strategy for leadership development.
Author: Evan Null
