Extreme Experience: Septuagenarian CEOs (BusinessWeek)

BusinessWeek ^ | Sept8, 2008 | Tom Lowry

[txzman]

Extreme Experience: Septuagenarian CEOs

Senator John McCain, who will be 72 when he formally accepts the nod, has sought to turn his advanced years into an attribute (he is wise) and a counterpoint to the message being championed by his 47-year-old rival, Senator Barack Obama (he is for a fresh start).

A similar dynamic is at work in business. You might be surprised at how many senior citizens—media moguls, casino kings, Chinese tycoons—are cutting deals, starting new businesses, and generally kicking boomer and Gen Y butt.

If 60 is the new 40, then 80 is the new 60. Mellowing with age simply doesn't compute for these folks. Every morning, Sumner Redstone, the 85-year-old chairman of Viacom (VIA) and CBS (CBS), rises at 5 in his Beverly Hills manse, swims, rides an exercise bike, runs on a treadmill, and peruses financial reports until the markets open. Rupert Murdoch, 77, goes a few rounds with a boxing coach before setting off to run his global media empire. Playboy Editor-in-Chief Hugh Hefner, 82, may get a workout from exercising the fabled prerogatives of his job.

-SNIP-

In such circumstances, the out-to-pasture retiree can look like a savior. Gerard R. Roche, senior chairman of headhunter Heidrick & Struggles (HSII), 77, has placed several older executives in recent years. "The key," he says, "is that they still have their marbles."

As for Lutz, at 76 he holds arguably the most important job of his long career. Now General Motors (GM)' vice-chairman, he's overseeing the carmaker's shift away from gas-guzzling trucks and SUVs.

Older executives often evince a been-there-done-that serenity. "I feel much freer about taking risks," says Harold Burson, who co-founded public-relations firm Burson-Marsteller in 1953 and at 87 continues to advise blue-chip clients. "The planet is not going to stop spinning if I'm wrong."

[txzman]

Interesting article - has a GREAT list of 80+ year old men still at the top of their businesses, many of them still routinely out-foxing young up-an-comers in their own industries.

A nice rebuttal to anyone who says McCain is too old.

[mr_hammer]

My how things of changed. When I entered the work force in the early 80’s many 40 & 50 year olds were being put out to pasture.

Now, in my estimation your just hitting you business stride.

I have notice though there is a direct correlation between business success and keeping oneself physically fit.

...Just an observation

[ilgipper]

I hear constantly around here from people troubled with McCain’s age. This is a good response. While I would prefer a younger candidate, I don’t see anything on McCain’s part that troubles me. He seems very sharp. I will remind those people of the many top business leaders in their 70s and 80s. I know I have encountered some of the most impressive people in business in that age range.