Sumner Redstone, 84
Executive chairman, Viacom
After Viacom spun off CBS in January 2006, the founder of National Amusements and Viacom hinted at an impending retirement. But as the WWII veteran reportedly told ex-Disney chief executive Michael Eisner, “Once you’ve had this kind of power, Michael, let’s face it, nobody wants to give it up.”
O. Bruton Smith, 80
Chairman and C.E.O., Sonic Automotive, Speedway Motorsports
The billionaire North Carolinian began promoting car races in his teens and now owns half a dozen Nascar racetracks and a spate of car dealerships. Smith, who keeps an office in a modest Ford dealership, is mum on stepping aside. He has a clear successor in place, though: His son Scott is Sonic’s president.
Rupert Murdoch, 76
Chairman and C.E.O., News Corp.
The media magnate shows no signs of slowing down. If anything, with his recent bid for Dow Jones, he’s just hitting his stride. But should he tire of takeover drama, he has a long list of potential successors, including his third and current wife, Wendi Deng, and several of his six children.
Warren Buffett, 76
Chairman and C.E.O., Berkshire Hathaway
The Oracle of Omaha recently seemed to acknowledge that he won’t live forever when he announced that the majority of his $40-billion-plus fortune would go to the Bill & Melinda Gates Foundation. Still, Buffett has no plans to retire and no clear successor. His closest associate, vice chairman Charles Munger, is 83.
Herb Kelleher, 75
Chairman, Southwest Airlines
The mandatory retirement age for members of Southwest’s board of directors is 74. But Kelleher, a former attorney who cofounded the airline and acted as its C.E.O. for 20 years, has been declared exempt from that rule. He said recently that he has no plans to step down.
J.W. (Bill) Marriott Jr., 74
Chairman and C.E.O., Marriott International
Marriott, who joined his father’s hotel company in 1956, said last December that he’s “having too much fun” to retire. When he does, he could be the last family member at the helm: His son John recently left the firm to work in finance.
Ray Irani, 72
Chairman, president, and C.E.O., Occidental Petroleum
Irani shows no signs of slowing down, although Occidental’s mandatory retirement age of 75 is looming. An object of criticism for his $415 million earnings in 2006—the bulk of which came from stock options he had cashed in—Irani hasn’t let the barbs get to him. “The business, the pressure, the strategy—it’s fun,” he has said.
Richard Manoogian, 70
Chairman and C.E.O., Masco
Manoogian went to work for his father’s firm, which specializes in making cabinets, faucets, and other building products, in 1958. With the company feeling the effects of the current housing slump, Manoogian has said he’ll step aside as C.E.O. in July but will stay on as chairman for at least five more years.
James Sinegal, 70
C.E.O., president, and director, Costco
The co-founder of the wholesaler, who has made a living selling mustard by the gallon and Advil by the jug, says he plans to keep on doing just that. But it seems he’s not staying for the millions: Sinegal draws a modest $350,000 annual salary and has lobbied for an increase in the minimum wage.
Michael (Mike) Jordan, 70
Chairman and C.E.O., E.D.S.
When the chief of this computer-services company was asked last October when he might retire, he replied, “Who knows?” Turns out he did retire once, from CBS, which he headed in 2003. Shareholders aren’t likely to give him the bum’s rush: Jordan, also a former executive at PepsiCo and Westinghouse, transformed the slumping E.D.S. when he took over.
