The next
chemicals CEO
We analyzed the backgrounds of 129 CEOs of chemicals companies across the world and compared that with our analysis of CEOs at leading companies across sectors and around the world. Here are the key findings.
The share of women CEOs in chemicals company remains low
8
6
Europe & Africa
Asia Pacific & Middle East
Americas
Gender diversity of CEOs, by region (%)
Women
Men
92
94
100
Source: Heidrick & Struggles’ analysis of the 129 CEOs of chemicals companies around the world with revenues over $2.5bn, n = 129
0
100
Note: Numbers may not total 100 due to rounding.
Source: Heidrick & Struggles’ analysis of the 129 CEOs of chemicals companies around the world with revenues over $2.5bn, n = 129
0
100
81
3
3
23
Europe & Africa
Asia Pacific & Middle East
Americas
National
Non-national
National vs. non-national (%)
European companies appointed more foreign CEOs than Americas and Asia Pacific
N/A
33
17
7
70
64
Source: Heidrick & Struggles’ analysis of the 129 CEOs of chemicals companies around the world with revenues over $2.5bn, n = 129
0
0
17
African
Latin American
United States
& Canada
Americas
Asia Pacific & Middle East
Europe & Africa
Nationality region (non-national) (%)
But even European companies chose CEOs from the same region
Western
European
South Asian
Middle Eastern
or north African
8
25
33
0
25
0
83
25
17
8
0
17
0
25
17
44
14
14
Note: Other C-suite experience includes chief compliance officer, chief marketing officer, chief risk officer, chief strategy officer, and chief technology officer.
Source: Heidrick & Struggles’ analysis of the 129 CEOs of chemicals companies around the world with revenues over $2.5bn, n = 129
Europe & Africa
CEO
CFO
COO
Prior C-suite experience, by region (%)
Americas chemicals companies showed a much stronger preference for CEOs with previous C-suite experience
Other C-suite
No C-suite experience
22
19
Americas
17
17
53
14
31
Asia Pacific &
Middle East
65
5
7
5
11
Source: Heidrick & Struggles’ analysis of the 129 CEOs of chemicals companies around the world with revenues over $2.5bn, n = 129
36
14
19
Europe & Africa
Asia Pacific & Middle East
Americas
Cross-sector experience in previous two roles (%)
European chemicals CEOs have significantly more cross border and cross sector experience
47
9
22
Europe & Africa
Asia Pacific & Middle East
Americas
Cross-border experience (%)
Chemicals CEOs
46
11
19
22
12
Source: Heidrick & Struggles’ analysis of the 129 CEOs of chemicals companies around the world with revenues over $2.5bn, n = 129; and 'Route to the Top 2022', Heidrick & Struggles, heidrick.com.
Professional backgrounds, chemicals CEOs vs. industrial CEOs (%)
Compared to their peers in the wider industrial sector,
they have less previous C-suite experience
(n=129)
22
23
(n=453)
Global industrial CEOs
36
37
24
21
21
19
45
Previous C-suite experience
Other C-suite
COO
CFO
CEO
Cross-border experience
No C-suite experience
Cross-sector experience
Founder
Internal
External
(n=129)
Chemicals CEOs
1
61
30
(n=453)
Global industrial CEOs
3
61
33
Type of appointment
Source: Heidrick & Struggles’ analysis of the 129 CEOs of chemicals companies around the world with revenues over $2.5bn, n = 129
Type of appointment, chemicals CEOs vs. industrial CEOs (%)
Chemicals CEOS have similar rates of internal vs external appointments with industrial CEOs
Note: Totals may not sum 100 due to rounding
Source: Heidrick & Struggles’ analysis of the 129 CEOs of chemicals companies around the world with revenues over $2.5bn, n = 129
N/A More than 10 years 5.1–10 3.1–5 years 1–3 years Less than 1 year Founder or co-founder
Time to appointment, by region, grouped (%)
However, the percentages vary by region, with Europe more likely to bring in CEOs from outside the company
Asia Pacific &
Middle East
Europe &
Africa
39
8
8
42
Americas
16
49
5
23
3
36
22
31
8
4
2
2
3
Appointment type, by region (%)
0
100
42
23
Europe & Africa
Asia Pacific & Middle East
Americas
Founder or co-founder
Internal
External
N/A
31
58
60
67
2
16
3
Average time to appointment
Average age
Average age at appointment
(n=129)
Chemicals CEOs
20.0
59
53
(n=453)
Global industrial CEOs
13.5
57
51
Source: Heidrick & Struggles’ analysis of the 129 CEOs of chemicals companies around the world with revenues over $2.5bn, n = 129
Appointment and tenure, chemicals CEOs vs. industrial CEOs (years)
Compared to their industrial peers, chemicals CEOs are on average two years older at appointment and spend considerably longer in their companies prior to their CEO appointments
Tenure
5.6
6.1
Source: Heidrick & Struggles’ analysis of the 129 CEOs of chemicals companies around the world with revenues over $2.5bn, n = 129
6.6
4.8
5.9
Europe & Africa
Asia Pacific & Middle East
Americas
CEO: Average tenure in role (years)
49
57
53
Europe & Africa
Asia Pacific & Middle East
Americas
CEO: Average age at appointment (years)
There are significant regional differences here as well:
European CEOs are on average 8 years younger than their Asia Pacific counterparts
15.1
28.6
14.9
Europe & Africa
Asia Pacific & Middle East
Americas
CEO: Average time to appointment (for internal appointments) (years)
For more on the CEOs of chemicals companies across the world and our thoughts on how to strengthen CEO succession in the sector, see “The next chemicals CEO: Three strategies for CEO succession in the sector”