Companies with older CEOs are significantly more likely to be successfully taken over than companies with younger leaders, according to a study conducted by researchers at the Stanford and Dartmouth graduate business schools.
The researchers looked at about 9,000 public companies between 1989 and 2007 and found that those with CEOs between the ages of 64 and 66 were 32 percent more likely to be acquired than firms whose CEOs were aged 59 to 63.
This may be because retirement-age CEOs are less likely to resist losing their position as the head of a company and may want to put “an exclamation point” at the end of their career, one of the researchers told the Wall Street Journal.
Still, the likelihood of a successful takeover in any given year for companies with older CEOs was small: 5.8 percent, compared with 4.4 percent for those with younger leaders, the news outlet said.
The median age of Realtors is 56, according to the latest member profile from the National Association of Realtors. That median goes up to 59 for broker-owners who sell and to 62 for broker-owners who do not sell.