Against a backdrop of macroeconomic and geopolitical turbulence, the emphasis on experience in CEO appointments is growing, with the average age of those stepping into the top job in Europe rising from 56 in 2021 to 57.5 in 2026.
That’s according to Heidrick & Struggles’ latest ‘Route to the Top Europe’ report, which also found that four in ten (41%) newly appointed chief executives across the continent’s largest listed companies have previously held a CEO title.
In the UK, the average age of a CEO at appointment was 51.7, below the European benchmark. However, only 8% of current UK CEOs were appointed before the age of 45, the second-lowest figure in Europe.
While the UK stands out for the seeming reluctance of boards to take a bet on younger talent, across the continent, the proportion of CEOs appointed before 45 has fallen from 25% in 2021 to 17%, suggesting the trend towards later appointments is accelerating Europe-wide.
The report’s findings, based on a sample of 552 CEOs from the largest companies in Europe, highlight a still narrow path to the top job – with the representation of women among Europe’s CEO ranks, for example, only having made a marginal gain of two percentage points from 6% in 2021 to 8% in 2026.
In the UK, a background in finance leadership remains a key route to the CEO role – more so than anywhere else in Europe. Nearly a third (32%) of UK CEOs previously held a CFO title, against European and global averages of 22% and 19% respectively.
The UK also ranks ahead of its European peers on the likelihood of its leaders being non-nationals – at 47%. France, by comparison, has 18% non-national CEOs, while the figures for Italy and Spain are lower still.
Jenni Hibbert, regional leader, Europe & Africa and global managing partner, leadership insights at Heidrick & Struggles, says: “The data paints a detailed picture of who is running UK Plc in 2026. The path to the top has narrowed over time and the profile it rewards is increasingly specific.
“What should concern boards is not just who is getting through, but who isn’t. When nearly half your CEOs come from overseas, one in three came through finance, and fewer than one in 10 were appointed before 45, you have to ask whether the pipeline is genuinely open or whether it just looks that way.”
This CEO profile in part reflects how UK boards assess leadership readiness, according to Heidrick & Struggles. The dominance of the finance route to the top, for example, indicates the value placed on the ability to manage financial complexity and articulate performance to markets.
While the data points to leadership ranks lacking in demographic diversity, in other ways the top job is more accessible in the UK compared with European peers. Only just over half (54%) of CEOs hold a postgraduate degree, against a European average of 69% and figures above 85% in the Nordics and Benelux.
Picture credit: Gary Yeowell via Getty Images.
