It said 45% of the leaders of these companies would be over 60-years-old in the next five years, and some 27% would be over 65-years-old in the same period.
Collectively, the survey said, only 544 directors led these companies. They varied in age from the youngest at 24 years old to the oldest, who was 87 years old.
Plimsoll estimated that 46% of the companies were in “clear financial difficulties” and 19% of companies failed to make any profit at all last year.
David Pattison, senior analyst, said: “It’s debatable how many can afford to retire.” He added: “If they are thinking of selling up then the business needs to command a good price.”
For these reasons, the analysis points to strong evidence that directors are hanging on well into retirement.
The generally acepted view that enthusiasm and motivation fails with age is completely unfounded, according to Plimsoll as 39 companies ran by directors over 60-years-old increased both sales and profits in the last year.
Other findings included that the average director’s salary last year was £60,765. This compares to the UK average of £67,500. The average director’s fees increased by 61% in 2005. Top earners, Plimsoll reckoned, could see this salary rise to over £142,000 per annum.
Copies of the complete analysis are available for £350 by calling +44 (0)1642 626400, or by e-mail at m.aston@plimsoll.co.uk.
