Most of the Bell 20 executives were not previously CEOs

Eleventh edition of the International Barometer Route to the top , Published by Heidrick & Struggles. Institution, specializes Executive Search And Leadership Consulting , Analyzed the profiles of 1,095 CEOs of the largest companies listed. This study was conducted for the third time in a row on Bell 20’s patterns.

The directors of Bell 20 are said to be the most qualified and loyal to their company, while most of them have not been CEOs before.

7 out of 10 CEOs (71%) have experience in a management function (e.g.Chief Financial Officer Where Chief Operating Officer), Two-thirds are first-time managing directors. If there is such a responsibility “They were able to prove their resilience, adaptability and agility during the Pandemic and they definitely have the ticket to become CEO.“, Says Marie-Hélene De Coster, Partner-in-charge D’Hedrick & Struggles Brussels. “It is very interesting to see this kind of movement in a world of perpetual change, in which you need to show skill and management knowledge so that you can turn around more quickly.“

The CEOs of Bell 20 also have the longest tenure in office, with an average of more than 11.1 years in office. Globally, the average length is only 6.6 years.

A trend that can be explained by the resurgence of appointments in Belgium: about one in two of the Bell 20s were appointed CEOs before they were 45 years old. The average age to be appointed CEO is declining in our country. He was 47 years old two years ago and is 46 today. The average age of current CEOs at Bell 20 is 57 years old.

But why would a CEO trust an inexperienced forty-something executive? Qualification level. Belgian leaders are among the most highly educated in the world: 86% of them hold a diploma in higher education, while the rate is only 62% globally. Finland is the only country with the highest qualification for CEOs, with a score of 92%.

Diversity is slowly improving

2020 edition Route to the top Pointing to the decline in the representation of women as CEOs, the 2021 report shows a return to the status quo of 2019 before the health crisis: 10% of women hold the position of CEO of the Bell 20 company, i.e. two leaders. “With this rate, Belgium ranks first in the international rankings, with an average of 6%.“Marie-Hélène De Coster analyzes that only Ireland (14%) and Singapore (11%) are better than Belgium.

However, it should be noted that from January 2020, there was only one woman at the helm of a Bell 20 company: Ilham Kadri, head of Solvay, a chemical group. Dominic Leroy, who was head of Proximus until September 2019, replaced Guillum Boutin in January 2020. So the 2020 rate should be 5%.

In addition, one-third of “our CEOs” are from a field other than the one they control.

Finally, the 2021 report understands the profile of CEOs appointed since the beginning of the health crisis. “After a short hiatus in CEO appointments and a return to job seekers with more ‘classic’ backgrounds, many companies are once again trusting leaders with broader backgrounds. , By Marie Hélene De Coster . Similarly, after last year’s break, gender equality has accelerated: the share of women in CEO positions has fallen globally to 6%, rising to 13% in the second half of 2020 and 13% in the first half of 2021.