Five-year tenure for FTSE 100 CEOs

FTSE 100 chief executives are spending an average of five years in their jobs according to this year’s Cantos survey of CEO tenure.

While the average CEO spent 4.4 years in their job in 2002, the length of their time in the position increased to 4.6 years last year and five years this year.

The trend is heartening for PR firms, whose fortunes on a retained account with large companies can often be tied to those of the CEO.

Last month, Stuart Rose’s replacement of Richard Holmes as chief executive of Marks & Spencer resulted in Brunswick losing the PR account for the firm to Tulchan Communications.

The survey also found that the number of FTSE 100 CEOs who have been in the job for more than two years increased from 66 per cent in 2003 to 71 per cent this year.

The survey identified Sir Ken Morrison as the longest serving FTSE 100 boss. He has spent over 36 years in charge of WM Morrison supermarkets and as chairman retains executive duties.

British Land chairman and CEO John Ritblat is second longest serving, having notched up nearly 35 years, while WPP group chief executive Sir Martin Sorrell is third with over 18 years.

Of the top 35 longest-serving CEOs, only three were external appointments. But 23 of the FTSE 100’s CEOs were external appointments.

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