1、Route to the Top 2021CEO & BOARD PRACTICEThanks to the following Heidrick & Struggles colleagues for their contributions to this report:Bonnie GwinNew YorkJeffrey SandersNew YorkJeremy HansonChicagoClaire SkinnerLondonDavid HuiHong KongLyndon TaylorChicagoThis years Route to the Top draws on an anal
2、ysis of the profiles of the 1,095 CEOs at the largest publicly listed companies in 24 markets as of July 5, 2021. Australia and New Zealand, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Mexico, Netherlands, Portugal, Singapore, South Africa, Spain, Sw
3、eden, Switzerland, the United Arab Emirates, the United Kingdom, and the United States are included in this report.About the reportIntroduction4A turn back toward pre-pandemic trends513 Route to the Top 2021: SnapshotThe changing of the guard: New CEOs compared to their predecessors1016 Looking ahea
4、dDiverse region, inclusive workforces: Diversity and inclusion policy and practice in Asia PacificHEIDRICK & STRUGGLES3 IntroductionROUTE TO THE TOP 20214 This year, we were curious to see if the sharp and immediate impact of the COVID-19 pandemic on CEO succession planningin which we saw a markedly
5、 slower planning process and newly appointed CEOs who fit into a traditional comfort zonecontinued, or if earlier trends toward greater diversity among new CEOs would be restored. Indeed, we once again see a broader understanding of what makes a good CEO among the new appointments. We also explored
6、how the profiles of these newly appointed CEOs differed from their direct predecessors in order to gain an understanding of how much CEO expectations have changed compared to the previous generation. Our key findings include the following: The first half of 2021 shows a record number of CEO appointm
7、ents, the highest since 2018. The share of women CEOs appointed in the same period doubled: 13% of all CEOs appointed in the first half of 2021 were women, compared to 6% in the previous six monthsthough absolute numbers are still very low. More new CEOs have C-suite experience beyond the traditiona
8、l CFO and COO roles, including roles such as chief risk officer, chief strategy officer, and chief technology officer. After a period of increased external appointments early last year, the balance shifted toward internal appointments. Compared to their direct predecessors, new CEOs are more likely
9、to be women, to be from countries other than where the company is headquartered, to have cross-border experience, and to have advanced degrees. Our findings show us that companies are returning to a more expansive view of CEO succession. The steady increase of CEOs appointed internallywhile ensuring
10、 those CEOs have various sources of fresh perspectivealso highlights that many companies are strengthening their succession pipeline so they can tap into a larger number of leadership roles within the organization.Denmark, Finland, France, Germany, Italy, the Netherlands, Portugal, Spain, Sweden, Sw
11、itzerland, the United Kingdom, and the United States.Females Males TotalFor the 14 countries tracked since 2018 (January 1, 2018July 5, 2021)Appointment trends over time (#)January 1, 2018June 30, 2018July 1, 2018December 31, 2018January 1, 2019June 30, 2019July 1, 2019December 31, 2019January 1, 20
12、20June 30, 2020July 1, 2020December 31, 2020January 1, 2021July 5, 2021781455625256445527761057455140472666Diverse region, inclusive workforces: Diversity and inclusion policy and practice in Asia PacificHEIDRICK & STRUGGLES5 New CEO appointments rose dramatically in 2021. After a significant slowdo
13、wn in appointments in the second half of 2020, companies made a record number of CEO appointments in the first half of 2021, which signals confidence in both their companys prospects and their ability to find the right leader. Looking at the 14 countries1 weve tracked since 2018, the first six month
14、s of 2021 had significantly more appointments than any similar period, outstripping the next highest half-year period by 14 placements, or 22.6%, and was very close to the overall number of appointments in 2020 in these 14 countries: 82.1 We have tracked 14 countries since 2018: Australia, Belgium,
15、A turn back toward pre-pandemic trends130543216789101112130543216789101112130543216789101112ROUTE TO THE TOP 20216 CEO appointments by market (#)AustraliaJan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec
16、312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1
17、Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan
18、1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020
19、Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302
20、019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July 52021Jan 1 June 302018July 1 Dec 312018Jan 1 June 302019July 1 Dec 312019Jan 1 June 302020July 1 Dec 312020Jan 1 July
21、 52021Belgium DenmarkFinland France GermanyItaly Netherlands PortugalSpain Sweden SwitzerlandUnited Kingdom United States13054321678910111213054321678910111213054321678910111213054321678910111213054321678910111213054321678910111213054321678910111213054321678910111213054321678910111213054321678910111
22、2130543216789101112For the 14 countries tracked since 20182 Route to the Top 2020, Heidrick & Struggles, on .CEO appointments rebound in the first half of 2021 (#)Appointment timelineAppointed January 2020June 2020Appointed July 2020December 2020Appointed January 2021July 5, 20218949103Diverse regio
23、n, inclusive workforces: Diversity and inclusion policy and practice in Asia PacificHEIDRICK & STRUGGLES7 Companies that did make a change early in the pandemic on the whole reverted to their comfort zone of appointing executives with prior CEO experience and a successful leadership track record, wh
24、o were often men.2 Across the 24 markets in our study, we saw that progress toward gender equity surged forward in 2021 after last years pause: the share of women appointed to CEO roles had dipped to 6% in the second half of 2020 but rose to 13% in the first half of 2021. This is likely the result o
25、f the combined impact of regulatory requirements for gender balance in corporate ranks implemented by many countries in our study, stakeholder pressure, and a conscious decision to gain fresh perspectives through a fairer gender balance. Other sources of diversity and fresh perspectives, such as hav
26、ing a nationality different from the home country of the companys headquarters, cross-border experience, and cross-industry experience, have held steady through the past 18 months. We have, however, seen an increase in the share of new CEOs with MBAs or other advanced degrees over the past 12 months
27、.An increasing share of new CEOs have held other roles in the C-suite, signaling that companies are increasingly reaching beyond the traditional ranks of CFOs and COOs. In fact, the proportion of new CEOs who had held other C-suite roles more than doubled from January 2021 to June 2021 compared to t
28、he same period in 2020. The number of former CFOs took a notable dip, particularly compared to the previous six months. C-suite roles that are moving up in paving the way to CEO include chief risk officer, chief strategy officer, and chief technology officer.Fresh perspectives also return in CEO pro
29、files in the first half of 2021Gender Non-nationals Cross-border experience Cross-sector experience8% 29% 36% 28%6% 29% 41% 37%13% 28% 42% 31%67%73%72%EducationAdvanced degree MBA30%43%35%January 2020June 2020 July 2020December 2020 January 2021July 5, 2021Fresh perspectives: DiversityROUTE TO THE T
30、OP 20218 Chief operating officer261724More new CEOs have previous C-suite experience (%)C-suite experience overallType of C-suite experience Type of C-suite experience Most common type of experience in previous 2 roles Appointed January 2020June 2020Chief executive officerChief marketing officerChie
31、f risk officerChief strategy officerChief technology officerChief digital officerChief compliance officerOther C-suiteAppointed July 2020December 2020Appointed January 2021July 5, 2021Other C-suiteHead of divisionChief financial officer242818Sample size: 148Sample size: 148 3643CEO382622CFO162815COO
32、1411134176138517CEO53465682COO261724CFO24281832534656871954002222425431111January 2020June 2020 July 2020December 2020 January 2021July 5, 2021Diverse region, inclusive workforces: Diversity and inclusion policy and practice in Asia PacificHEIDRICK & STRUGGLES9 In addition, head of division roles ha
33、ve become increasingly common stepping-stones to the top job: 41% of the new CEOs this year had held such roles. Indeed, many companies have elevated the heads of their main divisions to their executive teams in recognition of the roles importance and to ensure that those leaders take part in key de
34、cisions. Such practices also give division heads firsthand experience with executive committees and make them stronger contenders for CEO roles.Data from the past 18 months also show increasing shares of internal appointments from January 2020 to July 5, 2021. This suggests that improvements many co
35、mpanies have made to their internal leadership development and succession planning processes, such as broadening the experience of heads of divisions, are now working. These internally appointed CEOs are more often women than are their externally appointed peers and have more often held less traditi
36、onal C-suite roles. Its also little surprise that they less often have cross-sector experience.More CEOs are appointed internallyExternal appointmentsInternal appointmentsJanuary 2020June 2020 July 2020December 2020 January 2021July 5, 202146%53%38%62%39%59%CEOs appointed January 2020July 5, 2021 Ex
37、ternal (%) Internal (%)Fresh perspectives Women CEOsNon-nationalsCross-border experienceCross-sector experienceC-suite experience C-suite experience overallCEOCFOCOOOther C-suite1116 2719 2715 2732 2640 3954 1680 8267 447ROUTE TO THE TOP 202110 It is perhaps no surprise that CEOs appointed over the
38、past year differ significantly from the CEOs they replaced. After all, the departing CEOs average tenure was seven years, and in those years the world has changed markedly. The new CEOs in this years report are more likely than their predecessors to be women, to be non-nationals, to have cross-borde
39、r experience, and to have advanced degrees.Newly appointed CEOs also have more diversified areas of prior C-suite experience than their predecessors do. This difference could reflect the increased importance of functions such as technology, risk, or strategy. But this broadening of scope also reflec
40、ts the fact that the CEO role itself is expanding far beyond its historical day-to-day running of the business. CEOs today need to champion (both internally and externally) issues such as sustainability, social justice, DE&I, and cybersecurity, along with other issues specific to their business or g
41、eography. CEOs are in the spotlight more than ever, their actions are scrutinized by a larger number of stakeholders, and they have to be much closer to and transparent with their own employees. In this context, leadership capabilities such as agility, empathy, role modeling the organizational purpo
42、se, and fostering inclusion matter just as much as specific areas of expertise.The changing of the guard: New CEOs compared to their predecessorsPredecessors New CEOs appointed July 1, 2020July 5, 2021Predecessors New CEOs appointed July 1, 2020July 5, 2021Diverse region, inclusive workforces: Diver
43、sity and inclusion policy and practice in Asia PacificHEIDRICK & STRUGGLES11 New CEOs versus their predecessorsFresh perspectives: DiversityGender Non-nationals Cross-border experience3% 20% 38%11% 30% 46%Women to menN/A N/AMen to womenNational to non-national No to yesSameNon-national to national Y
44、es to noSame SameEducationAdvanced degreeType of changeMBA60% 20%76% 35%Sample size: 241Sample size: 2412%8%13%5% 5%19%10%16%88% 71% 63%ROUTE TO THE TOP 202112 Predecessors New CEOs appointed July 1, 2020July 5, 2021Chief financial officer1820Newly appointed CEOs have more diversified C-suite experi
45、ence than their predecessors (%)Type of C-suite experienceChief marketing officerChief strategy officerChief technology officerChief risk officerChief compliance officerChief digital officerOther C-suite323164323231100Type of C-suite experience CEOOther C-suiteChief executive officer5652CFO1820COO22
46、241028Chief operating officer22245652C-suite experience overall 82 83No prior C-suite experienceDiverse region, inclusive workforces: Diversity and inclusion policy and practice in Asia PacificHEIDRICK & STRUGGLES13 All current CEOsAverage age at appointmentAverage age nowAverage tenure (years)New (
47、1 year)Appointed before age 45EducationAdvanced degree MBA62% 30%49 25%14%56 6.6Appointment typeExternal Internal30% 65%Route to the Top 2021: SnapshotHas prior C-suite experience78%22%C-suite experience overall Type of C-suite experience (%) Most common type of experience in previous two roles (%)C
48、EO CEO2547COO COO 1421CFO CFO 1218Other C-suite Head of division4117Prior C-suite experience DiversityGender Non-nationals Cross-border experience Cross-sector experience24% 36% 28%6%ROUTE TO THE TOP 202114 Fresh perspectives: Sector viewAutomotive & aerospaceBanksChemicals Construction Consumer goo
49、ds & retail Healthcare Industrials Insurance ManufacturingPharma Power & utilities Real estateTechnology Transport & logistics Media & entertainmentTravel & hospitality OtherOther financeFemale Non-nationals Cross-border experience Cross-sector experience35%11%34%31%16%14%26%17%47%17%29%33%29%61%59%
50、40%62%40%38%28%53%41%42%36%43%26%47%64%29%22%29%31%35%35%41%31%24%20%25%22%29%21%26%24%30%54%19%17%21%12%17%31%33%13%9%10%13%2%6%4%4%9%0%8%3%8%6%2%4%8%0%4%Diverse region, inclusive workforces: Diversity and inclusion policy and practice in Asia PacificHEIDRICK & STRUGGLES15 Fresh perspectives: Marke
