While public companies have been known to set their mandatory retirement age at 72 or 75, there is no minimum age limit to serve as a director. According to Equilar data, the youngest director is William J. Pulte—CEO and a board member of Pultegroup Inc. –at age 29. Many other directors on the list, such as Mark Zuckerberg, CEO and Chairman of Facebook, and Benjamin J. Tisch, Vice President and Director of CNA Financial Group, are either founders or executives of their companies. The median age of the directors in the study is 39 years.
50 Youngest U.S. Public Company Board Members
August 7, 2018
As companies attempt to adapt to changing trends and technology across corporate America, new and innovative perspectives have become more necessary. Of course, with younger talent at all levels of the organization comes fresh eyes, including in the boardroom. Young directors are becoming more prevalent as companies look for new perspectives in their boardrooms. Equilar recently conducted a study on the 50 youngest directors at Equilar 500 companies.
The majority of young directors on this list serve on well-known, large public companies, such as Facebook and Coca-Cola. By electing a younger director, these companies essentially bring different strategical approaches to the table that may help expand household names. While more established directors also regularly formulate fresh ideas, a younger director may add value to the board by sharing ideas from an angle that may not have been previously considered due to a generational difference. Overall, establishing early boardroom experience at large public companies may be beneficial to these directors, as a larger, more established company may assist in providing a theoretically steady understanding of an industry.To read full article, click here.