Eligibility for becoming a CEO

If you check this link:  https://medium.com/ @ theglobalbusinessmagazine/list-of-youngest-indian-ceos-and-entrepreneurs-in-india-8f87c2cd7efa , you will realise that there is no minimum age to become CEO if one is enterpreneur because in small companies owner themselves run whole business.  However,  first one need to understand CEO's role.  CEO is position with full responsbility to look after whole company ,manage daily operations. so one need to develope different skills like leadership skills, decision -making skills  , communication & convincing skills & many others. One needs to be updated be with industry trends & news on daily basis.

Thanks for this Kinnari. But as a CEO, you become a KMP. So, is there any eligibility to become a KMP in the first place? If I'm a CEO and not a KMP, then what's the use of it anyways.

Hello Aniketh,

As per companies Act 2013, whole time KMP is required to be appointed by every listed public companies having paid up share capital more than ten crore. However, Its not applicable to private limited companies nor it prohibit them to do so. 

Yes, I have read it in one of the articles on the internet, but can you please clarify the eligibility to be a KMP in a private limited (experience, age requirement, etc). This would be really helpful.

As per the provisions of the Companies Act, there is no such provisions in the Companies Act 2013 which talks about the minimum age criteria or qualification of CEO but in general parlance and subject to the provisions of the Indian Contract Act 1872, a minor is not competent to act and such act by the minor is void ab initio. So at least minimum age of CEO should be 18 years or more.