c-barra-RTR3JIT2-Jonathan Ernst

The American exec is getting older

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Chief executive officers of major American firm went from being 45 years old at hire on average in 2012 to 50 in 2017.

Published   |  Photo by Reuters/Jonathan Ernst
c-barra-RTR3JIT2-Jonathan Ernst
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Other positions are being filled by more experienced executives. Chief financial officers went from being an average of 42 years old at hire in 2012 to 48 in 2017.

c-barra-RTR3JIT2-Jonathan Ernst
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Following the financial crisis of 2008 and the Dodd-Frank Act of 2010, CEOs and CFOs became personally responsible for violations committed by subordinates.

c-barra-RTR3JIT2-Jonathan Ernst
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The average age of CFOs and CEOs in the US

c-barra-RTR3JIT2-Jonathan Ernst
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But that rule doesn’t apply to Kraft Heinz. The food company recently announced that David Knopf, only 29, would become CFO.

c-barra-RTR3JIT2-Jonathan Ernst
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Back in 2014, Daniel Schwartz became the CEO of Burger King at 33.

c-barra-RTR3JIT2-Jonathan Ernst
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What both of those companies have in common is that they are controlled by 3G Capital, the Brazilian-American investment firm.

c-barra-RTR3JIT2-Jonathan Ernst
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The firm is known for appointing younger chief executives. It worked with Burger King three years ago. The effect on Kraft Heinz’s slow growth remains to be seen.

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