Too Old For CEO - C1 - C2 Business English News Lesson

BUSINESS NEWS LESSONS
Forever Young: when is it time to step down?
1 Warmer
a. Discuss the questions below. Then, share your answers with the rest of the class.
1. Do you think there is a correlation between age and job performance? Why (not)?
2. Should retirement be mandatory? For which kinds of professional activities? Why?
3. What is the ideal retirement age? Why?
2 Key words
a. Read the definitions and find key words in the article that match the definitions. The section
number is given in brackets to help you. Check your answers and your understanding of how
the words are used by using them to complete the example sentence immediately after each
definition. You might have to modify the word slightly to use it in the sentence.
Then read the complete article to see how each key word is used in context.
1. an act of breaking an agreement (paragraph 2)
He was fired for misconduct after he the global procurement policy.
2. in a way that is based more on chance than on reason or being planned
(paragraph 3)
The Consumer Protection Bureau has put in place limits to prevent
charged banking fees.
3. existing outside of its time in history (paragraph 3)
The company released a statement describing the leader’s comments as inappropriate and
4. relating to the study of populations and the different groups they consist of
__________________________ (paragraph 4)
Subscribe to our __________________________ data report to learn more about the latest
Advanced
trends that will affect your business.
5. a problem that slows things down __________________________ (paragraph 6)
We are successfully using AI to help us minimise customer service
__________________________ during our busiest season.

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6. be the most noticeable or largest part of something; have control over someone or something
__________________________ (paragraph 7)
Our range of personalised mugs still __________________________ the £20-gift market.
7. decide that a rule will not be followed __________________________ (paragraph 8)
We are offering __________________________ fees if you open a premium business account.
Restrictions apply.
8. be slow to do something because you are not willing or don’t want to do it
__________________________ (paragraph 10)
Customers can be __________________________ to provide honest and substantive feedback.
9. the period in which you are the legal owner of an official position or job
__________________________ (paragraph 11)
This long-awaited biography depicts the fascinating life of Malcolm Williams and his
__________________________ as CEO of one of the most profitable start-ups in the world.
10. eligible to receive money when you don’t work anymore because you are too old
__________________________ (paragraph 11)
They are considering recruiting more agents on a permanent but
non__________________________ basis.
11. not wanting to take risks __________________________ (paragraph 12)
Even __________________________ individuals will occasionally make an impulsive purchase of
a new product.
12. force someone to leave a job or position of power __________________________ (paragraph 15)
Advanced
I expected some pushback on my radical new strategy, but I did not expect that I would be
__________________________!
13. describing a careful way in which something is considered to make sure it is correct
__________________________ (paragraph 15)

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They have put in place more __________________________ controls to ensure that all
employees comply with the standards.
14. an examination to judge someone or something’s qualities or success
__________________________ (paragraph 15)
They are expected to undergo a lengthy __________________________ before they are
appointed CTO.
3 Key words – pronunciation
a. How many syllables are in these words from the article? Identify the stressed syllable in
each word.
1. candidacy 7. proportionate
2. discrimination 8. pensionable
3. arbitrarily 9. octogenarian
4. anachronistic 10. continuity
5. demographic 11. rigorous
6. intergenerational 12. appraisal
b. Identify each word’s schwa (/ə/ - always unstressed) sound. There may be more than one.
Examples: candidacy, discrimination
1. anachronistic
2. demographic
3. intergenerational
4. proportionate
5. pensionable
Advanced
6. octogenarian
7. rigorous
8. appraisal
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In search of chief executives who never

grow ‘old’
COMPETENCE AND CAPABILITY ARE THE BEST WAYS TO ASSESS LEADERS WHATEVER THEIR AGE
ANDREW HILL
18 November, 2023
1 By naming 53-year-old Janet Truncale as its next careers” are ill-served by traditional leadership
global chief executive, EY will hope it can put behind selection processes.
it a nasty bushfire ignited by one rival candidate over
the final leadership taboo: old age.
2 During his campaign for the top job, Andy Baldwin,

57, warned executives discussing his candidacy
that they risked breaching age discrimination laws if
they made too much of the fact that a four-year term
heading the professional services firm would push
him beyond 60. That is when EY usually requires its
partners to step down.
3 Sixty seems an absurdly and arbitrarily early age

at which to ask executives to hand in their lanyards
and badges. Except in the case of a few physically
demanding jobs, mandatory retirement also seems 6 Age is just a number, they say. But succession
an anachronistic throwback. Most countries are planning is dominated by another number: usually,
obliging workers to toil for longer before they can there is only one job at the top. That tempts
claim a state pension. Companies are also falling companies to force change to ease leadership
over themselves to become more inclusive. bottlenecks.
7 Mandatory retirement ages are legal in the UK if

4 Tension is only likely to increase as companies
they represent a proportionate means of achieving
and staff try to reimagine work for 50-year careers.
a business aim. That could include freeing up senior
Speaking at the recent Anthropy conference on
jobs or, in EY UK’s case, partnerships for younger
the UK’s future, Jeremy Hughes, who is helping
colleagues. At a level where men still dominate, it
to develop a new charity aimed at bridging the
might also serve to meet a corporate goal of greater
demographic divide, Intergenerational England,
ethnic and gender diversity.
described the workplace as the “key forum where
generations come together”. But the workplace is 8 In the US, mandatory retirement for CEOs is an
also where generations could come to blows. exception under age discrimination legislation. But an
increasing number of big companies have started to
5 The career that Baldwin and his EY peers have had
abandon or waive their mandates. This year, Chevron
is already hard to imagine for 20-somethings. On
dropped its age cap of 65 for chief executive Mike
the same panel, youth ambassador Ladajah Wilson Wirth, now 63, to ensure continuity at the oil and
Advanced
made clear she did not want to follow the 9-to-5, gas company.
four-weeks-annual-holiday path of her elders. She
preferred a career that was varied and flexible (even 9 Meanwhile, the average age of US chief executives
if she lamented it would be hard to afford, given what continues to creep upwards. According to headhunter
she was set to inherit from the older generation, Crist Kolder, in 2013, the age of CEOs when hired
financially and environmentally). Such “squiggly averaged 51.3. It now stands at 55.6.
Continued on next page
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10 Listed companies do seem more reluctant to keep 13 I prefer an age-blind approach that does away with
chief executives well into their seventies or eighties. age-related stereotypes. It could also help assess
When I drew up a ranking of global leaders of listed the capabilities and potential of younger people like
businesses by age in 2011, Warren Buffett, then 80, Wilson, if she ever wants to run a multinational.
was only the 16th oldest corporate chief. At 93, he
now tops a global league table, prepared by BoardEx 14 This is another area where technology could level
for the FT, that contains only two octogenarians. the playing field. At an FT conference on artificial
Among US bosses, he is 11 years older than the intelligence last week, Tomas Chamorro-Premuzic,
next oldest in the Fortune 500, Robert Mehrabian of author of Why Do So Many Incompetent Men
Teledyne Technologies. Become Leaders?, said AI could help humans “focus
on the qualities that make people better leaders, while
11 Buffett might seem an exception. But he is living ignoring the noisy signals that make them more toxic
proof that some older chief executives amply justify and inept”.
extending their tenure beyond what used to be
considered pensionable age. Capable younger 15 The solution to “bed-blocking” by bosses, in other
executives ought to be able to rise sooner, too. words, is not automatic ousting, based on age, but
Only 31 of Fortune Global 500 companies are headed more rigorous appraisal, based on competence.
by chief executives aged under 50.
12 Research has shown that shareholder wealth

drops for each year a chief executive ages. Plenty
of leaders overstay their welcome because of too
tolerant boards or poor succession planning. Another
study suggests leaders become more risk averse
as they age, with negative consequences for stock
performance. Researchers found that was particularly
true when the two most influential executives were
older. The best outcome might be to pair younger and
older colleagues.
Andrew Hill, 18 November, 2023.

© The Financial Times.
All rights reserved.
Articles republished from the Financial Times.
Advanced
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4 Understanding the article
a. Are the statements True (T) or False (F) according to the article? Correct any statements that
are false.
1. Abdy Baldwin was recently appointed global CEO of EY.
2. EY usually asks its partners to hand in their lanyards when they turn 60.
3. Intergenerational England is a charity that tries to bridge the demographic divide.
4. Ladajah Wilson prefers a career with stability over uncertainty.
5. By law, UK companies can set mandatory retirement ages if doing so supports a business goal.
6. In the US, many large companies no longer force their silver-haired leaders to retire.
7. Currently, in the US, CEOs are, on average, 55.6 at the end of their tenure.
8. At 93, Warren Buffet is the oldest chief executive of a Fortune 500 company.
9. Only 31 Fortune Global 500 CEOs are over 50.
10. Shareholder wealth increases with each year a chief executive ages.
11. Leaders are more willing to take bigger risks as they age.
12. The writer believes a more rigorous approach should be used to appoint competent leaders,
regardless of age.
5 Business language – idiomatic phrases
a. Find phrases in the text that match the de initions. The section number is given in brackets to
help you.
1. something that is difficult to control and spreads very quickly, usually causing a lot of damage
(paragraph 1)
2. quit or retire (paragraphs 2 and 3)
3. be very eager to do something (paragraph 3)
4. have a serious argument or physical fight with someone (paragraph 4)

Advanced
5. increase slowly (paragraph 9)
6. prove that something is true by behaving in a certain way or simply by existing (paragraph 11)
7. stay too long (paragraph 12)
8. create a situation in which everyone has the same chance of succeeding (paragraph 14)
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9. pay no attention to obvious warnings (paragraph 14)
10. when an older person uses a bed in a hospital even when they don’t need to be there because
they have nowhere else to go (paragraph 15)
b. Choose five phrases and use them in sentences of your own
6 Discussion
a. Discuss these questions.
A generation gap is when people from different generations do not understand each other because
of their different experiences, opinions and values.
• What is an acceptable retirement age? Should there be a mandatory limit?
• What are the arguments in favour of pairing older and younger colleagues?
• How can one bridge a generation gap?
• How can a workplace ensure “a rigorous appraisal, based on competence” when appointing
its leaders?
• What does it mean to be a modern elder?
7 Wider business theme – bridging the age gap
a. Look at the chart below. Identify your generation. How well do the words describe you? Do
you agree or disagree with the traits? What generation gaps have you experienced in your
professional and private life?
Generation Typical values and traits

Silent generation / Traditionalists loyalty
work ethic
a.
b.
Baby boomers hard-working
more risk-taking
c.
Advanced
d.
Generation X friendly, flexible, laid-back
e.
f.
work-life balance
monetary rewards
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Millennials / Generation Y seek meaningful work

tech-savvy
g.
h.
seek feedback
Generation Z global mindset
i.
j.
flexible work hours
job security
social responsibility
b. Consider the following suggestions for bridging the age gap. How could one implement each
piece of advice?
1. Focus on overlap
2. Improve communication
3. Value experience/age
4. Encourage mentoring
5. Have clearly defined roles
c. Think about the generation gaps in your organisation. Make notes on the following:
• Introduction to the generation gaps in your organisation
• Key issues
• Recommendations
d. Now, write a short report summary suggesting how to bridge the age gap.
Useful language
This report aims to outline … and to present …

Let us start with …
Advanced
Furthermore, / In addition to this, …

For instance, / One example of this is …
Whereas / While …
Based on my observations, I would like to make X recommendations …
I (personally) believe that … / I suggest that …
To summarise, …
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Forever Young: when is it time to step down?
8. reluctant
Level: Advanced (C1–C2)
9. tenure
10. pensionable
Time: Approximately 90 minutes
11. risk averse, risk-averse
12. oust, ousted
Business topics: Chief executives, age,
generation gap, discrimination 13. rigorous
14. appraisal
Business language: Useful business
vocabulary, phrases and expressions, 3. Key words – pronunciation
pronunciation, report writing: bridging the
age gap a. Ask students to work in pairs to say the words aloud
and identify the number of syllables and stressed
Activities: Discussing retirement age, key syllables. This can be done by clapping. Students
words, understanding the text, business can also use a dictionary if needed.
language, discussion, report on bridging
generation gaps at work Key:
1. can-di-da-cy
Groups: Whole class, one-to-one, 2. dis-cri-mi-na-tion
small groups
3. ar-bi-tra-ri-ly
4. a-na-chro-nis-tic
5. de-mo-gra-phic
6. in-ter-ge-ne-ra-tio-nal
Overview: This article discusses how the
7. pro-por-tio-nate
average age of the chief executive is on the
rise, what age and retirement policy trends 8. pen-sio-na-ble
are, and how competence should be the top 9. oc-to-ge-na-ri-an
criterion when recruiting leaders. 10. con-ti-nu-i-ty
11. ri-go-rous
12. a-pprai-sal
1. Warmer b. Students identify the schwa in each word.
a. Ask students to discuss the questions in pairs or Key:

small groups. Elicit the main ideas that arise from 1. anachronistic
the discussion from the whole class. 2. demographic
3. intergenerational
2. Key words 4. proportionate
5. pensionable
a. Have students scan the article, find the key words 6. octogenarian
individually, and compare their answers in pairs. 7. rigorous
Elicit answers from the whole class. 8. appraisal
Key: 4. Understanding the article

Advanced
1. breach, breached
2. arbitrarily a. Ask students to scan the article individually to
3. anachronistic complete this activity and compare their answers.
4. demographic Remind them that they don’t need to read the whole
5. bottleneck, bottlenecks article each time but that they should rather look over
6. dominate, dominates/dominated it very quickly to locate the information and then read
7. waive, waived it carefully.
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Key: 5. We’re planning to invest in our own offices, but

1. False. Janet Truncale was appointed. property prices are creeping upwards.
2. True 6. Charlize is living proof that age is just a number.
3. True 7. I am going to head back now. I don’t want to
4. False. She does not want a 9-to-5 job and prefers overstay my welcome.
a varied and flexible career. 8. Many hoped that remote work could level the
5. True playing field for women.
6. True 9. Our customer complaints are up. Look at the
7. False. They’re 55.6 at the start of it. numbers – they are noisy signals we can’t ignore.
8. True 10. I think accusing older colleagues of ‘bed-blocking’
9. False. Only 31 are under 50. is age discrimination.
10. False. It decreases.
11. False. They become more risk averse. 6. Discussion
12. True.
a. Put the students in pairs or small groups and ask
5. Business language them to discuss the questions. When students have
covered all the questions, bring the whole class
a. Ask students to practise their scanning skills again back together so that they can share their answers
to complete this activity. You could also set it up as and any interesting information that arose from
a whole-class activity, so students compete against their discussions. Make note of good examples of
each other to complete the ‘reading race’. vocabulary and language on the board and incorrect
usage that needs to be corrected. Ask the class to
Key: identify which is which and help you with corrections.
1. (nasty) bushfire
2. step down / hand in their lanyards and badges 7. W
ider business theme – bridging the
3. fall over yourself age gap
4. come to blows
5. creep upwards a. For this activity, you could group students to work
6. be living proof with others of different ages if possible. Ask them
7. overstay your welcome to look at the chart and discuss the traits of each
8. level the playing field generation. Have them research more traits and add
9. ignore noisy signals ideas. Elicit comments from the whole class.
10. bed-blocking
Key (suggested answers):
b. Ask students to work in pairs or small groups to 1. a/b. formal/traditional environment; security
come up with sentences. This can be done as a 2. c/d. hierarchy of authority; don’t need constant
speaking or writing activity. The answers given feedback
below are simply suggestions. More than one 3. e/f. efficiency, autonomy
answer is possible. 4. g/h. challenge authority; relaxed work
environment
Key (possible answers): 5. i/j. adapt to technological shifts; authenticity and
1. Her latest comment on employees’ concerns was connection
Advanced
a spark that started a bushfire.

2. She has just handed in her lanyard; I heard she b. Have students discuss possible strategies for
got a job as a sales rep. overcoming generation gaps at work and get them
3. They are practically falling over themselves to to elaborate on what they think the five strategies
please the visiting CEO. provided mean.
4. Brad and Sam nearly came to blows over the new
project in our last meeting.
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Key:
1. get colleagues to see what they have in common,
find similarities in goals/needs/values
2. get colleagues to improve communication by
listening to each other, spending more time in a
different environment, getting a coach
3. give older people opportunities
4. start a formal or informal mentoring programme,
get older and younger colleagues to
work together
5. first, discuss individual job roles, then get
teams to share these to have transparency and
understand each other’s value
c. Ask students to discuss the generation gaps in their

organisation. If they are not currently working, have
students choose a situation they are familiar with.
Get them to discuss the key issues and solutions in
their group.
d. Go over useful language with the class and elicit any

other phrases that might be useful for report writing.
Students can brainstorm in pairs, but ask them to
complete the writing activity individually. When they
are finished, get them to peer edit. You can ask them
to focus on the structure and clarity of ideas and use
new language from the lesson.
Advanced
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BUSINESS NEWS LESSONS

Forever Young: when is it time to step down?

2. Should retirement be mandatory? For which kinds of professional activities? Why?

3. What is the ideal retirement age? Why?

1. an act of breaking an agreement (paragraph 2)

He was fired for misconduct after he the global procurement policy.

2. in a way that is based more on chance than on reason or being planned

The Consumer Protection Bureau has put in place limits to prevent

charged banking fees.

3. existing outside of its time in history (paragraph 3)

trends that will affect your business.

5. a problem that slows things down __________________________ (paragraph 6)

We are successfully using AI to help us minimise customer service

__________________________ during our busiest season.

Published by Macmillan Education Ltd. © Macmillan Education Limited, 2024. 1

Our range of personalised mugs still __________________________ the £20-gift market.

7. decide that a rule will not be followed __________________________ (paragraph 8)

We are offering __________________________ fees if you open a premium business account.

8. be slow to do something because you are not willing or don’t want to do it

__________________________ (paragraph 10)

Customers can be __________________________ to provide honest and substantive feedback.

__________________________ (paragraph 11)

__________________________ as CEO of one of the most profitable start-ups in the world.

__________________________ (paragraph 11)

They are considering recruiting more agents on a permanent but

11. not wanting to take risks __________________________ (paragraph 12)

Even __________________________ individuals will occasionally make an impulsive purchase of

__________________________ (paragraph 15)

Published by Macmillan Education Ltd. © Macmillan Education Limited, 2024. 2

employees comply with the standards.

14. an examination to judge someone or something’s qualities or success

__________________________ (paragraph 15)

They are expected to undergo a lengthy __________________________ before they are

3 Key words – pronunciation

4. anachronistic 10. continuity

5. demographic 11. rigorous

6. intergenerational 12. appraisal

Examples: candidacy, discrimination

Published by Macmillan Education Ltd. © Macmillan Education Limited, 2024. 3

In search of chief executives who never

2 During his campaign for the top job, Andy Baldwin,

3 Sixty seems an absurdly and arbitrarily early age

7 Mandatory retirement ages are legal in the UK if

Published by Macmillan Education Ltd. © Macmillan Education Limited, 2024. 4

12 Research has shown that shareholder wealth

Andrew Hill, 18 November, 2023.

Published by Macmillan Education Ltd. © Macmillan Education Limited, 2024. 5

4 Understanding the article

1. Abdy Baldwin was recently appointed global CEO of EY.

3. Intergenerational England is a charity that tries to bridge the demographic divide.

4. Ladajah Wilson prefers a career with stability over uncertainty.

9. Only 31 Fortune Global 500 CEOs are over 50.

5 Business language – idiomatic phrases

2. quit or retire (paragraphs 2 and 3)

3. be very eager to do something (paragraph 3)

4. have a serious argument or physical fight with someone (paragraph 4)

5. increase slowly (paragraph 9)

7. stay too long (paragraph 12)

Published by Macmillan Education Ltd. © Macmillan Education Limited, 2024. 6

9. pay no attention to obvious warnings (paragraph 14)

b. Choose five phrases and use them in sentences of your own

a. Discuss these questions.

• What is an acceptable retirement age? Should there be a mandatory limit?