Parag Agrawal, the new Chief Executive Officer of Twitter Inc., is now the youngest CEO in the S&P 500, but apparently just barely.
None of China Cash Flowed Through the Congo Bank to Former President's Cronies
Agrawal was appointed Monday to succeed Twitter founder and CEO Jack Dorsey, who is 37, the same age as Meta Platform Inc. CEO Mark Zuckerberg. Agrawal was born later in 1984, but was later in 1984 than Zuckerberg's May 14 birthday, as a result of security concerns, according to Twitter. Dorsey, who was 45, was already among the dozen youngest CEOs in the collection of the largest U.S. companies.
I don't think the age thing is that big of a deal, especially for companies like this. David Larcker, a professor at the Stanford Graduate School of Business who studies CEO performance, said it could be an advantage. He has real confidence in him because he is not going to be like a shadow CEO because of the fact that Dorsey is stepping down from the board. According to the data compiled by Bloomberg, Berkshire Hathaway Inc. CEO Warren Buffett is the oldest CEO in the S&P 500 at 91. The average age of a CEO among the 500 largest companies was about 58 years, according to the data. The trend in CEO age still doesn't favor youth. The data on S&P 500 companies measured by executive recruiter Spencer Stuart shows an increase in the age of CEO over the last two decades.
Dorsey will be on the board of the San Francisco-based company until his term ends in 2022, Twitter said Monday. Agrawal will also be joining the board, where he will be a statistical outlier. The average age of an S&P 500 director is 63, according to Spencer Stuart.
None of the Wildfires Are Worse, and One Chemical Company is Reaping the Benefits.