Life expectancies are increasing. Phrases like “60 is the new 40” are becoming increasingly commonplace, and just about every survey shows people invariably feel younger than their chronological age.
So why is the chairman of Directors & Boards, Robert H. Rock, who is also president of the investment company MLR Holdings, suggesting in the pages of his magazine that it may be a good idea for chief executives to step down once they turn 60?
After all, even Mr. Rock concedes that “retiring a highly successful C.E.O. at 60 may seem like throwing out a very scarce resource.”
Still, he says, “in some highly innovative industries” like investment banking, technology and pharmaceuticals, chief executives frequently retire early.
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