Millennial CEOs Rise as Baby Boomers Bypass Gen X for AI-Ready Leadership

A new trend in corporate leadership is seeing baby boomer executives bypass Generation X colleagues and instead promote millennials to CEO positions, driven largely by the latter’s greater comfort with AI and digital transformation [1]. This shift marks a significant departure from traditional career progression patterns and highlights a growing preference for tech-savvy younger leaders.

According to research by the Conference Board and Esgauge, the proportion of CEOs in the Russell 3000 who are at least 60 years old has risen from 35.1% in 2017 to 41.5% in recent years. Simultaneously, the share of millennial CEOs—those in their 30s and 40s—has increased from 13.8% to 15.1% over the same period [1]. In contrast, Generation X, typically in their 50s, has seen a decline in CEO representation, falling from 51.1% to 43.4%.

This transition reflects a broader generational shift in leadership dynamics, with baby boomers opting to promote younger talent rather than pass on the baton to their near-peers. Gen X professionals, often referred to as the “forgotten generation,” are increasingly being overlooked despite being at a stage in their careers where they would traditionally expect to ascend to top positions [1].

Experts attribute much of this change to the rapid integration of AI into business operations. Companies now seek leaders who not only understand AI but are also willing to leverage it strategically. According to a 2024 report by recruitment agency Randstad, 50% of millennials use generative AI in the workplace, compared to 34% of Gen X and 19% of boomers [1]. Moreover, 55% of millennials express optimism about AI-driven solutions, versus 37% of Gen X and 36% of baby boomers.

This enthusiasm for AI makes millennials uniquely positioned to lead digital transformation efforts. They are not only digitally native but also experienced enough to manage complex business operations. Meanwhile, Gen Z is considered too young for such roles, and Gen X is viewed as less adaptable to AI integration.

Workplace ageism and the expectation that Gen X will retire soon further contribute to their marginalization. Approximately 22% of employees aged 40 and above report being overlooked for challenging assignments, while 16% have observed patterns of being passed over for promotions in favor of younger staff [1].

Several high-profile examples illustrate this trend. In 2020, Lime, an electric scooter and bike company, appointed a 36-year-old millennial as CEO. The individual previously served as chief of staff to Uber’s CEO and had experience in policy advising and private equity [1]. Similarly, Kickstarter appointed a 33-year-old millennial as its CEO in 2022, and Red Lobster made history by naming its youngest CEO in August 2024. At 35, Damola Adamolekun took the helm of the struggling seafood chain, bringing a fresh perspective and dynamic leadership style.

These appointments signal a strategic move by corporate leaders to align with the skills and attitudes required for an AI-driven future. As AI continues to reshape industries, the preference for millennial leaders is likely to persist, further marginalizing Gen X in the upper echelons of corporate leadership.

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[1] https://fortune.com/2025/08/07/gen-x-ceos-decreasing-baby-boomers-millennials-corporate-career-ladder-ai-skills-business/