New CEOs at major firms average 57, getting younger by about two years

(Leaders Index)

The average age of newly appointed chief executives at South Korea’s top 500 companies has fallen by about two years, reflecting a clear shift toward younger, internally grown and more technology-oriented leadership.

According to a survey released Tuesday by Leaders Index, 55 new CEOs were appointed at large Korean companies in the second half of this year (June–December), slightly down from 57 a year earlier. The average age of incoming CEOs stood at 57.5, down 2.1 years from this year’s 59.8.

Executives born in the 1960s accounted for the largest share, with 42 appointments, followed by 11 born in the 1970s. The dominance of internal promotions also strengthened, with 52 CEOs (94.2 percent) rising from within their own companies, up from 89.5 percent last year, underscoring a growing preference for homegrown leadership.

Another notable trend was the rise of engineer-led management. The share of CEOs with financial backgrounds declined to 23.6 percent (13 people) from 28.1 percent (16), while those from production and manufacturing roles jumped to 10.9 percent (6) from just 1.8 percent a year earlier.

In terms of academic background, graduates of Seoul National University, Yonsei University and Korea University continued to dominate, though appointments of CEOs from Hanyang University increased noticeably.