A recent blog in the Harvard Business Review is quite an eye-opener! It appears that the number of global corporate leaders with international experience is way below what you may expect. Consider the following:
- Only 14% of the world´s 500 largest corporations by revenue, the Fortune Global 500, are led by a CEO who hails from a country other than the one where the corporation is headquartered.
- The share of foreign CEOs and board members rises only to ~30% among the world’s 100 corporations with the largest foreign assets.
- Only 1 of the 96 Fortune Global 500 companies from the BRIC countries has a foreign CEO.
- Among corporations in the U.S. S&P 500 only 7% of board members were foreign nationals, only 9% had degrees from non-U.S. institutions, and 73% had no international work experience at all!
How is this possible?