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96% 
(2004-2013) 
Australian Chief 
Executive Study 
To learn more, visit: 
www.strategyand.pwc.com/chiefexecutivestudyanzsea 
In 2013 Strategy& continued to examine 
CEO turnover and looked at women 
CEOs of the last ten years. 
The 2013 
... and are more likely to be 
forced out of office 
Forced Planned M&A 
27% 21% 
38% 27% 
Outgoing CEO succession reason 
(2004-2013) 
forced out forced out 
forced out forced out 
13% 
60% 
11% 
51% 
23% 
56% 
27% 
46% 
Women CEOs differ from their 
male peers in that they are 
more often outsiders... 
Insider Outsider 
58% 
42% 
61% 
35% 39% 
65% 78% 
22% 
Australia Global Australia Global 
45 male 
female 
1 
2013 incoming CEO class 
MEN continue 
to dominate the 
incoming CEO 
class 
2012 2013 
6.7% 
2.2% 
2012 2013 
13.9% 
15.8% 
* Women on Boards - Boardroom Diversity Index report, 2013 
Appointment of Australian women 
CEOs is in decline, while the 
number of women being appointed 
to Boards is increasing 
Women CEOs 
Women on Boards* 
Australia 
Global 
Retention of 
Australian women 
CEOs is also in 
decline 
4.3% 
3.1% 
2004-2008 2009-2013 
and trending 
more negatively 
than the rest of 
the world 
Higher shareholder 
returns 
Best annualised 
returns 
$ 
1 
Top performing Australian companies are increasingly appointing more 
incoming CEOs from within their ranks who continue to perform better 
than outsiders 
43% 
48% 50% 
60% 
67% 
2009 2010 2011 2012 2013 
Incoming CEOs: INSIDERS 
of Australian 
ASX200 CEOs 
left office in 2013 
up from 15% in 2012 
16% 
Median tenure of 
outgoing CEOs has 
declined 
years in office 
4.3 
lower than the global median in 2013 
(5 years) and Australian median since 
2006 (5 years) 
© 2014 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, 
each of which is a separate legal entity. Please see www.pwc.com/structure for further details. 
Insider CEOs Performance

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Australian CEO Study: Women Leaders Face Higher Risk of Forced Turnover

  • 1. 96% (2004-2013) Australian Chief Executive Study To learn more, visit: www.strategyand.pwc.com/chiefexecutivestudyanzsea In 2013 Strategy& continued to examine CEO turnover and looked at women CEOs of the last ten years. The 2013 ... and are more likely to be forced out of office Forced Planned M&A 27% 21% 38% 27% Outgoing CEO succession reason (2004-2013) forced out forced out forced out forced out 13% 60% 11% 51% 23% 56% 27% 46% Women CEOs differ from their male peers in that they are more often outsiders... Insider Outsider 58% 42% 61% 35% 39% 65% 78% 22% Australia Global Australia Global 45 male female 1 2013 incoming CEO class MEN continue to dominate the incoming CEO class 2012 2013 6.7% 2.2% 2012 2013 13.9% 15.8% * Women on Boards - Boardroom Diversity Index report, 2013 Appointment of Australian women CEOs is in decline, while the number of women being appointed to Boards is increasing Women CEOs Women on Boards* Australia Global Retention of Australian women CEOs is also in decline 4.3% 3.1% 2004-2008 2009-2013 and trending more negatively than the rest of the world Higher shareholder returns Best annualised returns $ 1 Top performing Australian companies are increasingly appointing more incoming CEOs from within their ranks who continue to perform better than outsiders 43% 48% 50% 60% 67% 2009 2010 2011 2012 2013 Incoming CEOs: INSIDERS of Australian ASX200 CEOs left office in 2013 up from 15% in 2012 16% Median tenure of outgoing CEOs has declined years in office 4.3 lower than the global median in 2013 (5 years) and Australian median since 2006 (5 years) © 2014 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. Insider CEOs Performance