NEW DELHI: India's booming economy has thrown up an interesting side-effect - the average age of CEOs is coming down rapidly.

A study by global recruiting firm EMA Partners reveals that the average age of India Inc's top honchos has dropped by as much as nine years in the last five years.

"The number of younger people getting into top executive positions is more pronounced in emerging sectors like IT and ITeS and banking and financial services, compared to old economy areas like manufacturing," says EMA partners India MD K Sudarshan.

The average age of a CEO in the banking and financial sector has dropped to 42-45 years in 2006 from 49-52 years in 2001. In technology and software services, the average age of CEOs has come down to 36-40 years from 40-42 years in 2001.

Manufacturing, however, continues to be the bastion of older honchos with average age of 48-53 years in 2006 compared to 56-62 in 2001. Interestingly, this sector witnessed the biggest drop in average age by nine years.

"There is a co-relation between the drop in average age and burgeoning demand for senior professionals," Sudarshan says. Sectors like IT, BPO, financial services are witnessing great demand and younger executives have given the traditional industry like manufacturing a miss while selecting career.

The drop in the average age of leadership positions reflects the evolution and maturity of different sectors. While manufacturing is a matured field in India, IT, ITeS, banking and financial services are relatively new.

The drop in average age is also witnessed in CFO and HR head positions. It shows that young managers are no longer willing to go through the grind, but prefer high growth emerging businesses.



http://timesofindia.indiatimes.com/articleshow/1585404.cms

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