The rise of the (very) young CEO …

Even before Burger King splashed its inversion scheme, its  CEO, Daniel Schwartz, created quite the buzz in his first year.

Thanks to a successful restructuring of the company, BK has nearly doubled its net income and increased same store sales by 2%.

 

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While the company’s performance warrants the positive PR, the majority of articles focus on a non-financial number …

 

 

Schwartz’s age.

At 34 years old, Schwartz is nearly 20 years younger than the average S&P CEO.

His management team includes a 28-year-old CFO and 36-year-old President of North America.

This youthful team is shaking up the way people thing about leadership, age, and experience in business in the 21st century.

According to Inc, the average age of S&P 500 CEOs has dropped from 59 to 56 years old, and the youngsters are out-performing gray hairs.

 

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Why’s that?

Certain experience-driven skills that have been viewed as ideal in CEOs — political savvy and industry expertise — can result in an overly bureaucratic structure and tunnel vision, respectively.

Younger CEOs tend to demonstrate more flexibility, minimize internal politics, and think beyond the current and historical industry norms.

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“No, that is the great fallacy: the wisdom of old men. They do not grow wise. They grow careful.”

― Ernest Hemingway, A Farewell to Arms

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