Pfizer CEO, Jeffrey Kindler, recently retired from his postion at age 55 due to the overly demanding job. He said:
"The combination of meeting the requirements of our many stakeholders around the world and the 24/7 nature of my responsibilities has made this period extremely demanding on me personally," said Kindler in a prepared statement released late Sunday. "I am excited at the opportunity to recharge my batteries, spend some rare time with my family, and prepare for the next challenge in my career."
The experience of Kindler is similar to what I read in "Working Across Generations." It said that many non-profit executive directors were retiring, but many not because they no longer wanted to work, just that the they can no longer handle the burden of the job, the long hours, the related stress. Many were looking for other ways to stay involved in the workforce.
After reading the book and my own thoughts on the work world, I agree there needs to be a change in the job description of CEO/ED. In many agencies, it is an all-encompassing position. The book had suggestions such as break the position into two (if budget allows) or serious redelegation of responsibilities.
Many say its great to be your own boss, but you have to remember that these people have a lot on their hands and often their own people to look up to (board members, investors, etc.). I think that by the breaking position down a bit whether it's with a co-director or through better usage of staff, it will make the one in charge more able to focus on the most important tasks and also be their to support the staff when really needed.
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