Firing of a utility boss spotlights shorter tenures for women CEOs

Sloat’s ouster underscores that even as companies work to advance diversity and inclusion initiatives, female CEOs remain relatively rare and they spend less time at the helm than male bosses do. — Bloomberg

NEW YORK: The firing of American Electric Power Co’s (AEP) chief executive officer (CEO) after less than 14 months highlights a demographic reality of the business world: Women in the top spot have shorter tenures than their male counterparts.

Julie Sloat, who became CEO in January 2023, will be replaced temporarily by AEP board member Ben Fowke while the company searches for a new leader.