Sorry Gen X: Baby-boomers rather make generation Y of their successors for the jobs of CEOs because they are down with AI

About 41.5% of the CEOs of Russell 3000 are at least 60 years old, part of the baby-boomers generation, against 35.1% in 2017, according to research from the Conference Board and Esgauge. Meanwhile, the number of chiefs of generation Y, in their thirties and quarantine, went from 13.8% to 15.1% during these eight years.

But the Xers generation, entering the higher level stages of their career, does not see the same increase in representation. About 43.4% of people in their fifties are CEO, a fall of 51.1% during this same period.

Although generation X still represents the largest proportion of CEOs, they face opportunities for decrease compared to their millennium counterparts. Instead of giving their work to the next generation below them, baby boomers jump for generation X in favor of promoting younger talents in their place.

A large part of this change can be linked to the growing importance of AI in the workplace, according to experts. Almost all companies integrate advanced technology into their commercial strategies, and millennials have the whole digital skills to carry out this change.

The “forgotten” and not appreciated generation on the AI

It is not a secret for anyone that AI is there to stay – and the CEOs are categorical that the only workers who will prosper are those who embrace the technology. However, older generations are much more hesitant to use Chatgpt and other tools compared to young digital natives.

Millennials pave the way when it comes to adopting advanced technologies. About 50% of millennials use a generative AI at work, against only 34% of generation X, and 19% of baby boomers, according to a 2024 report from the Randstad recruitment agency. In addition, young workers are more positive on technology; 55% of millennials are optimistic about the solutions based on AI, as opposed to 37% of generation X and 36% of baby boomers.

Although the oldest generation is the least prepared and hope with regard to the use of the AI themselves, they are looking for successors that are more arranged. And the millennials correspond perfectly to the invoice: they are old enough to have an experience of industry, have grown up with the Internet and are more avant-garde on the use of AI in business. Generation Z is too young and generation X is tighter on technology.

But there can be another factor at hand: generation X is simply neglected at work in general. Due to aging and expectations that they will soon retire, generation X is transmitted to career opportunities. About 22% of employees aged 40 and over say that their workplaces jump older workers to challenge assignments, and 16% say they have witnessed a model of transmission for promotions in favor of young staff members.

Millennials are used as CEO of $ 1 billion

Companies of $ 1 billion are already on board with the next CEO wave of generation Y, promoting them position instead of the Xers generation that waited for their turn.

Last August, Red Lobster entered history by appointing his youngest CEO in history: Damola Adamolekun. At just 35 years old, he took the reins of the seafood chain in difficulty, after being director general of PF Chang’s at the age of 31, and an investment bank analyst at Goldman Sachs. The CEO of Millennial has marked a new start for the Lobster Red leadership strategy – and its energetic energy can make it an executive darling admired by other CEOs and customers.

The Kickstarter project fundraising company also appointed a millennium to its post as director general in 2022, when it was only 33 years old. Serial entrepreneur and CEO of the Millennium Everette Taylor has since become a force with which it is necessary to count, to do Forbes 30 List of under 30 for its efforts to develop equity in artistic and marketing kingdoms.

There is also the electric scooter and the bicycle company Lime, which appointed Wayne Ting, then 36 years old, as CEO in 2020. The millennium had been the chief of staff to the CEO of Uber, also a political advisor for the White House and a media in the Bain Capital.