Job security for FTSE 100 bosses much higher than for their football counterparts

Shareholders are not necessarily famous for their patience, but they seem to possess more of it than football boardrooms or supporters.

Recent events at Manchester United suggest as much, and there were, once more, fewer changes in FTSE 100 CEOs than English league football managers in 2025.

Fourteen FTSE 100 firms saw a change in chief executive, modestly above the post-2000 average of 13, while a new manager pitched up at no fewer than 46 of the 92 Premiership and Football League clubs in 2025, with nine of those 50 getting in a new man (and they were all men) on two occasions.

How does FTSE 100 bosses’ longevity compare to football managers?

Again, the FTSE 100 showed more stability here, as just two interim, stop-gap appointments were made, Nik Jhangiani at Diageo and Carol Howle at BP, and of the three firms to have already announced a change in 2026, only Rentokil Initial has yet to anoint a successor.

The total of 14 changes in CEO among FTSE 100 firms was only a fraction above the long-term average of 13 that prevails since 2000. Three well-trailered changes at the top have already taken place this year, compared to none at the same stage in January 2025, two in January 2024 and three in January 2023.

After 19 CEO changes in 2023, a period of relative calm has descended, with 15 new bosses in 2024 and then last year’s 14. A stronger performance from the UK equity market may have helped in this respect, keeping shareholders sweet and activist investors at bay.

Even then, not all of 2025’s changes took place at the behest or time of the departing leader’s choosing, even if Imperial Brands’ Stefan Bomhard stepped down upon the successful completion of a five-year turnaround plan, bang on schedule. Unilever’s Hein Schumacher, Diageo’s Debra Crew, WPP’s Mark Read, Hikma Pharmaceuticals’ Riad Mishlawi and BP’s Murray Auchincloss all departed suddenly, after disappointing operational or share price performance, or both.

How many football managers can match the tenure of the average FTSE 100 boss?

As a result of all of these changes, the average tenure of a FTSE 100 CEO is now 71 months, or just under six years.

After the early-year departures of Enzo Maresca from Chelsea and now Ruben Amorim at Manchester United there are 90 gaffers in position across the Premiership, Championship, League One and League Two. Only three can beat the average FTSE 100 CEO’s tenure of 5.9 years and their average time in the dug-out is just 21.9 months, or 1.8 years. Only 11 football bosses can point to keeping their post for four years.

Nor are football bosses getting much more time to get results on the pitch. The average tenure of 1.8 years is the highest this decade, but only a fraction ahead of the prior peak for longevity of 1.7 years reached at the start of 2021.