I did not want that to be the headline. But the data is what it is 🤷🏼
Spencer Stuart's 2025 European CEO Transitions report states it: 61 new CEOs appointed — the lowest total since 2017. The composition has flipped in ways most European boardrooms have not yet digested
3 numbers to sit with:
1️⃣ 74% of incoming European CEOs in 2025 are aged 50-59. An all-time high. A 15-point jump in a single year. Meanwhile, 40-49 year old CEOs crashed from 19% to 9%
2️⃣ Only 5 women were appointed CEO in 2025 — against 50 men. That is 10%. Down from 15% in both 2021 and 2022. For the SECOND consecutive year, zero women were appointed as healthcare CEOs
3️⃣ 56% of 2025 appointments went external (up from 40% in 2024) — reversing a 5-year trend toward internal succession
Europe reached for outsiders. Older outsiders. More often men 🤔
Now the most painful 🤕 paradox
47% of French board directors are women. Same for Norway. European boards are hitting 40%+ gender parity in multiple countries. And still — female CEO appointments are going DOWN
Spencer Stuart: "The lack of female CEOs is a pipeline issue, due in large part to a lack of women with P&L & divisional leadership experience"
Board diversity without P&L diversity is cosmetic 💄
Europe is aging 👴🏻 UP its CEOs (average 55.7, up 1.5 years) precisely as the US goes YOUNGER (54.4). Europe eliminated "leapfrog" CEO appointments entirely in 2025 — down from 7%
European boards are less willing than ever to bet on internal dark horses 🐎. Older. Going external. Reconsidering nothing about the pipeline 🚰 that produced the choice ⚠️
💡 So what is the takeaway for anyone sitting on a European board right now?
→ Stop 🚫 celebrating boardroom gender numbers not replicated in your top operational /executive roles
→ Build P&L exposure into your high-potential female leaders THREE roles before they need it. Not one.
→ Audit your succession pipeline against the actual composition of your 2028 CEO shortlist 🎯
❓One question for every European Board Chair reading this: If your board had to name your next CEO from the internal bench today, how many of the plausible names would be female leaders under 50?
📣 But don't take my word for it. Take it from a female 1st time CEO client of mine:
💬 “I want to take this opportunity to express my gratitude for your support and coaching in my development as a CEO. Your coaching has helped me to define a clear vision for our company, develop a strategic plan for my team, and enhance my self-awareness substantially. The coaching has been crucial in my journey to become a more effective leader. Your coaching not only helped me navigate the initial transition challenges but also empowered me to make impactful decisions that align with our long-term goals. I’d like to thank you for your invaluable support.”
#CEOTransitions #Boards #MasteringExecutiveTransitions #ETQ
About Navid Nazemian
Ranked as the world’s #1 Executive Coach by CEO Today for the third year running, I partner with senior leaders to navigate complexity, accelerate performance, and lead through critical transitions. Over the past two decades, I’ve supported hundreds of executives in overcoming unproductive thinking and solving their most complex leadership challenges—helping their organizations build world-class cultures and create lasting value.
If you’d like to reflect on a leadership challenge, an upcoming transition, or how I might support you, you’re very welcome to reply directly to this email.
You can also:
- Connect with me on LinkedIn for additional leadership insights
- Explore my international best-selling book ‚Mastering Executive Transitions: The Definitive Guide‘ described by Dr. Marshall Goldsmith as “THE ultimate guide to executive transitions to help leaders achieve their highest potential”
- Leave a review for my book here
What's Next? More insights on leadership, transitions, and executive effectiveness are coming your way next week. I’d genuinely value your perspective—feel free to share your reflections by replying to this email. I read every response.
Navid
