Indian CEOs younger and experienced compared to peers: Report
Indian CEOs ranked innovation metrics as the key decision driver, and was much higher than their global peers
When compared to their global counterparts, Indian Chief Executive Officers (CEOs) are younger and more experienced but handle companies with lower revenues, according to the findings of a survey published in a report in Business Standard. According to the survey by senior executive search company Egon Zehnder, they also do not take advise from the board or chairperson, but prefer to take feedback from top management. Elsewhere, CEOs rely more on the feedback of boards and chairperson both for the company and their own performance.
In India, the survey said that one-third of Indian CEOs had prior experience as Chief Executive Officers as compared to the global average of 22%. It also showed that they are much younger. Around the world, 30% of the CEOs are aged between 55-59, whereas only 17% of Indian CEOs are in the same age bracket. While most are far younger.
At the same time the companies they run are much smaller. Two-thirds of Indian companies had revenues of less than $ 1 billion as against 46% of the non-Indian CEOs. Only, 17% had revenues between $1 billion and $5 billion in comparison with 37% globally.
Growth-paramount importance for Indian CEOs
As per the survey, 85% of the Indian CEOs take feedback from senior leadership, while 62% said their second choice was relying on their own judgement.
However, at the global level the reliance on top management was lower (71%), and that’s the first choice. The second choice was getting feedback from the chairperson or board for 51% of global CEOs.
It also said that growth was of paramount importance for Indian CEOs, but for CEOs across the global it was financial performance followed by growth.
Indian CEOs ranked innovation metrics as the key decision driver, and was much higher than their global peers.
Egon Zehnder’s interviews consists of over 1,000 CEOs who together have $4 trillion in revenues. In India, Egon quizzed 100 CEOs, half of whom were heading Indian companies, while the other half were leading Multi National Companies (MNCs).