First-time CEOs comprised 84% of those hired at S&P 1500 companies in 2025, according to a February report from executive search firm Spencer Stuart.
Here are seven things to know from the report, which is based on publicly available data as of Dec. 31.
1. In total, 168 new CEOs were appointed in 2025 at S&P 1500 companies — the highest level recorded since 2010.
2. Of the 140 first-time CEOs hired, 2 in 3 had no board service experience.
3. The number of CEO transitions in healthcare organizations increased 21% in 2025. In comparison, CEO transitions in the technology, media and telecommunications sectors nearly doubled.
4. CEO tenure has trended downward since 2021 and reached an average of 8.5 years in 2025, according to the report. Nearly 40% of CEOs who left their role in 2025 did so within five years.
5. Internal hires are also on the rise. Across all companies, the share of external CEO hires decreased to 40% in 2025, down from its historic high of 43% in 2024.
Healthcare organizations saw mostly external CEO hires, at 70%. Further, 26% of all healthcare CEO hires had previous CEO experience — the highest of all sectors in the report and above the S&P 1500 average of 16%.
6. New CEOs in 2025 were younger on average than in 2024, at 54.4 years compared to 55.8 across industries. In healthcare, the average age of incoming CEOs was 56.
7. Just 9% of new S&P 1500 CEO hires in 2025 were women, down from 15% in 2024. Healthcare saw the highest share of women hired as CEO, at 19%.
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