India is a young country in terms of median age, and this demographic fact is not just a statistic. It is also reflected in the average age of chief executive officers (CEOs) which continues to decline. The Indian trend of appointing young CEOs began in 2004-2005, when the liberalizations of important sectors, from IT to telecommunications and infrastructures saw the arrival of many private companies and gave room for the creativity and energy needed to conquer front row seats in the virgin land of the sectors open again to competition. The 40-50 year olds of that time are now starting to age and a new generation is preparing to take their place.
Peter Chang, 34, has been put in charge of India's Asus. In Chennai sits the boss of AirAsia, Mittu Chandilya, 33, who is recruiting employees of his age. Another 33-year-old, Avani Saglani, heads Indian Starbucks, and Nishant Rao – also 33 – heads LinkedIn. Says Anjali Bansal, CEO of Spencer Stuart: “While there seems to be a return to proven and safe choices in companies operating in capital-intensive sectors, there will always be a need for young CEOs in consumer goods and services sectors oriented towards the new generations”.
