Some 24% of directors at the top 1,000 UK timber companies will be aged over 60 by the end of 2006, according to new research.
The study, by Plimsoll Publishing Ltd, says 40% of the directors will be over 60 within the next five years, while 24% will reach 65 within the same period.
Researchers said the top 1,000 companies are led by 2,165 directors, with the youngest aged 19 and the oldest 90.
Plimsoll senior analyst David Pattison said it was debatable how many directors could afford to retire, as 32% of the companies are in financial difficulties and 23% failed to make a profit last year.
The average directors’ salary last year was £94,536, compared to a UK average of £67,500. Top earners could expect to see their salary reach over £149,000, while typical time in office now stands at over six years.
