Don’t let old attitudes keep cream from rising to the top

The other day, a CEO and I were discussing the status of his company’s executive talent pipeline for management succession.

When the subject of promoting someone to the top spot came up, the CEO had the following to say of his three potential successors:

* “Why, he’s only 35 years old.”

* “He needs more seasoning.”

* “She’s not ready yet.”

This was not the first time I’d encountered such age chauvinism in Mahogany Row.

Another friend and I were discussing a 30-year-old executive, and my friend commented, “Only 30 years old.”

I reminded him that I had started my own firm at 30, and that he was leading a $1 billion-sales business at age 32!

When General Electric Co. CEO Jack Welch was in his 30s, he headed the company’s global multibillion-dollar plastics group.

Bill Gates, now 44, was barely into his 20s when he founded Microsoft Corp. in 1975.

And how about all the twentysomethings who are running software and Internet start-ups?

We — by that I mean those of us in our 50s and 60s — must concede that a new generation of leaders is emerging. And we need to get out of the way.

Next time you denigrate a young executive, think of yourself at that age: What were you doing when you were 30?

Great CEOs dedicate time and attention to the human dimension of their companies. They know who the players are, and revel in the development of their executive resources.

Do you know who your best people are? How do you plan to move them up the career ladder?

Talented executives expect considerable recognition. They want performance reviews and increased responsibilities. Do this, or you will lose this valuable resource to your competitors.

Remove the age barrier to recognize the upside potential in your company’s talent pipeline.

Frederick W. Wackerle is a Chicago-based consultant who advises boards of directors and CEOs on succession and senior management issues. This article initially appeared in sister publication Crain’s Chicago Business.