Companies are increasingly looking to retired CEOs to stabilize their operations, as exemplified by Cracker Barrel hiring a 69-year-old former restaurant executive as its new CEO. This trend indicates a shift in hiring practices for leadership roles, with boards seeking experienced veterans to manage high-profile turnarounds.

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https://www.wsj.com/business/from-cracker-barrel-to-boeing-companies-are-turning-to-retired-ceos-7f78a57c

From Cracker Barrel to Boeing, Companies Are Turning to Retired CEOs

Perhaps 70 is the new 50 when boards are looking for veteran executives to stabilize a company

Chip Cutter

and

Heather Haddon

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Rocking chairs are displayed for sale at a Cracker Barrel. The chain just hired a former restaurant executive as its next CEO.Luke Sharrett/Bloomberg News

In January, a headhunter from search firm Spencer Stuart started calling restaurant industry executives with a proposition: Would you come to Cracker Barrel CBRL-1.63%decrease; down pointing triangle as the next CEO?

Cracker Barrel’s decision to select a 69-year-old former restaurant executive to lead the chain highlights the emerging practice of boards calling in retired chief executives from the sidelines to help engineer high-profile turnarounds.

From Cracker Barrel to Boeing, Companies Are Turning to Retired CEOs

From Cracker Barrel to Boeing, Companies Are Turning to Retired CEOs

Perhaps 70 is the new 50 when boards are looking for veteran executives to stabilize a company

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