Less discussed, however, is a parallel crisis in corporate America: a wave of aging business leaders who refuse to step aside. The average retirement age is similarly increasing: to 62 in 2024 from 57 in 1991. Using public data from 1992 to 2018, they assessed the relationship between a CEO's age and their "managerial ability," as measured by how they turned company resources into revenue and profit. "​​A 10% increase in CEO age is associated with a 1.9% decrease in managerial ability," they wrote. And older workers, both above and below the traditional retirement age, already face unwarranted discrimination in the workplace.

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