Effect of CEO Attributes on Financial Performance of Listed Consumer Goods Firms in Nigeria

This study empirically investigated the effect of CEO attributes on financial performance of listed consumer goods firms in Nigeria. In order to determine the influence of CEO attributes on firms’ financial performance, CEO attributes were proxy using CEO educational level, CEO experience and CEO share ownership while firm financial performance on the other hand was measured using net assets per share (NAPS). Three hypotheses were formulated to guide the investigation and the statistical test of parameter estimates was conducted using panel least squares regression model operated with E-Views.12. Ex Post Facto design was adopted and data for the study were obtained from the Nigerian Exchange Group Factbook and published annual financial reports of listed consumer goods firms on Nigerian Exchange Group (NGX) spanning from 2015-2023. The findings of the study indicate that CEO educational level, CEO experience and CEO share ownership have positive and significant influence on firm financial performance (NAPS) at 1% significant level. Based on this, the study concludes that CEO attributes ensure corporate financial performance in Nigeria. The study therefore suggests above all that firms are encouraged to consider the educational level and experience of potential CEOs when making hiring decisions rather than solely relying on other criteria. Therefore, executives with related experience and a background in business administration, economics, finance, or accounting are recommended for recruitment.