With all this recent debate over whether to impose a mandatory retirement age for, say, the president of the United States, it’s a reminder that nobody has this stuff figured out. Ortberg, an industry star as CEO of Rockwell Collins, was a few years into his own retirement when tapped for the gig at Boeing. Now, he joins peers like Disney’s Bob Iger, Target CEO Brian Cornell, 3M CEO Bill Brown, and Chevron’s Mike Wirth in having their companies’ retirement rules waived to get them into the top job. 

What should temper any outrage over such casual trashing of the corporate canon is the fact that these rules don’t apply to many of us. Like a personal security detail and your own Gulfstream V, mandatory retirement clauses are typically reserved for senior executives and board members. Most rank-and-file corporate workers are theoretically allowed to work until they drop or a colleague gently convinces them to move on to other adventures (without breaching the 1967 Age Discrimination in Employment Act, of course). 

There are exceptions. Many professional services firms populated with lawyers, consultants, physicians and the like, impose mandatory retirement because the partners are considered co-owners of the firm. The predictability of having a defined end point to employment makes it easier to transition clients, avoid difficult conversations, and plan fantastic goodbye parties. 

Mandatory retirement is also commonplace for pilots, air traffic controllers, firefighters, and police officers. Some say mandatory retirement is necessary to maintain safety and efficiency, while bringing in fresh thinking and talent. (The Coast Guard, meanwhile, is discovering the limits of telling people to retire.) But mandatory laws can also cut people off in their prime, when everyone wants them to stay on the job. That’s why Superintendent Akers needed a new law to keep him in his role. 

The broader question, of course, is how to creatively manage people towards the end of their professional careers. Unless you’re an academic, a writer or, say, a Supreme Court justice, most career paths don’t end at the grave. Retirement’s a more fungible concept when careers are eclectic and we’re all aiming to live to 100. One liners about retirement waivers in press releases can feel a little like high school, where the cool kids on the board announce who gets to rise above their rules. (Wait, I forgot to mention age limits on boards!) 

Common sense is a good place to start. As Akers, who’s the first Black police officer to lead the Springfield department, recently said during his swearing-in ceremony: “Please don’t allow the state to end my career and ruin the police department at a time we’re moving in a positive direction.” May Akers and Kelly Ortberg live long and prosper in their new jobs.

More news below. 

Diane Brady
diane.brady@fortune.com
Follow on LinkedIn

TOP NEWS

Can Amazon’s leadership rules survive a new CEO?

An influx of external hires at Amazon is straining the leadership principles that have guided its executives for decades. Maxims include the famous six-page memo and “disagree and commit,” meant to avoid groupthink while preserving unity once a decision is made. But employees complain that executives now use the principles as a cudgel: One jokes that “disagree and commit” is turning into “disagree and quit.” Fortune

A WhatsApp boom?

Meta-owned WhatsApp is the world’s most popular messaging app, yet it’s never caught on in the U.S. In a call with analysts, CEO Mark Zuckerberg said the U.S. could become “a big tailwind” if American users switch to Whatsapp and drive engagement with Meta’s other services. Meta shares jumped 7% in extended trading after the social media company reported $39 billion in quarterly revenue, a 22% year-on-year increase. Fortune

The 26-year old crypto CEO taking U.S. politics by storm

Polymarket, a blockchain-based betting site, has become the hottest tool in the presidential election cycle, after bettors anticipated JD Vance’s selection as Donald Trump’s running mate and President Joe Biden’s decision to decline the nomination. Polymarket’s founder is Shayne Coplan, a 26-year-old New York native who stays out of the media spotlight. Rob Hadick of Dragonfly, a Polymarket backer, recalls how Coplan won over investors with a two-hour walk around the city, talking constantly about prediction markets. Fortune

AROUND THE WATERCOOLER

Elon Musk says society will ‘crumble’ if people don’t have more children—but even DINKs don’t want to splash out on childcare by Orianna Rosa Royle

Educators are leveraging AI to make the job of teaching easier—and make it more than a way to cheat on homework by David Austin

Columbia professor says McDonald’s can blame its sales woes on an election-stoked vibecession by Sasha Rogelberg

Kellanova’s CEO talks about the snap, crackle, and pop it takes to lead a global snacking business by Fortune Editors

Only an AI breakthrough can help humans live longer, argues drug developer: ‘We need a ChatGPT moment in longevity’ by Christiaan Hetzner

The reason you’re hooked on obscure sports at the Paris Olympics? Artificial intelligence by Ryan Hogg

This edition of CEO Daily was curated by Nicholas Gordon.