Footsie bosses lose staying power

Nick Goodway12 April 2012

CHIEF executives of Britain's top 100 companies can now expect to hold on to their jobs for less than four and half years - and the survival period is falling. With growing pressure from investors to perform and fat-cat pay packages under increasing criticism, FTSE 100 bosses who fail to deliver can expect to be ousted in short order, according to research published today.

The study by investor relations website Cantos reveals that, out of the top 100 bosses, 25 have been appointed within the last 18 months, 57 have been in place for less than three years and only eight for more than 10 years.

Longest-serving boss is Sir Kenneth Morrison of the Wm Morrison supermarkets chain. He was appointed in 1967 and at 1 June had been there for 12,631 days or 34.6 years.

The Cantos study contrasts with recent similar global research from headhunters Booz Allen Hamilton. This found the worldwide average tenure for chief executive officers during 2001 was 7.3 years, a sharp fall from the 1995 average of 9.5 years. It also showed that European bosses had shorter job spans than their North American counterparts with an average of just 6.5 years in the hot seat.

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