New Delhi: In a growing trend of young executives being hired for top management positions like CEOs, many companies in new-age sectors are opting for persons in the age group of 30-40 years for such roles.

Experts believe that companies are hiring young CEOs mainly to bring in greater risk-taking appetite and out-of- the-box thinking to their management and business practices, while the trend is getting more prevalent in sectors that have youth as their key target consumers.

According to executive search firm MANCER Consulting, approximately 10 percent of the top-level positions are currently held by young executives below the age of 40.

Data compiled by online job portal ChangeYourBoss.com also shows that 20 percent of the senior-level management positions in every second company include young executives.

Some of the companies whose CEOs are below the age of 40 include Air Asia India (Mittu Chandliya), FlipKart (Binny Bansal), Snapdeal (Kunal Bahl), Ibibo (Ashish Kashyap) and Nimbuzz (Vikas Saxena).

MANCER Consulting CEO Satya D Sinha said that about 41 percent of Indian workforce is moving towards retirement ages and the industry needs fresh talent to fill their positions.

The average CEO tenure at Indian companies is also declining fast, mainly because of a large number of incumbents being in the higher age brackets.

As per a recent study by HR services firm Randstad India, the current average tenure of an Indian CEO has declined to 6.8 years.

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