Age is no barrier

In the Easter edition of the Financial Review there is an interesting article titled CEOs WHO NEVER DIE . They state that in the general business world, owners or CEOs of private companies are older than those in public companies. Much of this has to do with the intense scrutiny that the CEO of a listed company is under. Private company CEOs have more time and the ability to back their own judgement because thay have more control and probably, more passion.

I have come across many successful private company CEOs who are in their late sixties and seventies. This can also be the cause of frustration for the next generation who are in management positions and in probably in their fouties and wonder ( or hoping ) that the old fella will give it away. We carried my own father out at 72 with his boots on.

Try telling that to Gerry Harvey ( 67 ) , Frank Lowery (76), Lindsay Fox ( 70 ) , John Gandel ( 72) etc etc....

In many smaller companies one of the reasons for the older leaders hanging in there is because the next generation are not interested in staying in one spot for too long and they do not want to work the hours their parents did.

The fact that those who are in their sixties and seventies are still there is what is keeping them fit, alert and heathly.

It a case of the old saying Use it or lose it . If you retire too early and stop using your brain you will most likely end up many sitting in nursing homes not knowing or careing what day of the week it is.

Also remember that experience and knowledge equals wisdom.

It will be interesting to see how many of these equity buyout perform over time being run by the spread sheet gurus. It's all about short term gain.

Bill Winter