According to a new survey carried out by Plimsoll Publishing Ltd, the UK leather industry, in all its aspects, is facing an experience time bomb as many company directors are expected to retire. The publication also offers valuable insight for those wishing to their take place.

Plimsoll analysed the UK’s top 930 companies connected with leather and the 1768 company directors responsible for them. Of the 1077 directors that have been in office for over eight years, 40% will be aged 60 or more by the end of 2005, creating a vacuum when they reach retirement age.

The 1,208 page report looks at how their decisions have influenced the financial performance of companies, pointing to two types of leaders: marathon runners and recently appointed. The report also looks at individual directors who have made a significant impact on the financial performance of companies and at those working beyond retirement, 55% of whom are running financially strong companies.

For those wishing to break into the managerial roles, the report offers some statistics including the average salary of £47,150, down by 8% from 2004, and top earners’ salaries of £167,000, slightly more than the UK average of £162,000. The report claims the average time in office in the industry is over 10 years, compared with the UK average of eight years.

 

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