Fortune 100 CEOs turn their backs on Social Media according to Business Week. Lack of time cited.#

Related Categories: Social Media

It seems that Fortune 100 CEO’s just aren’t into social media. New research out today from the Web site UBERCEO has found that only two of those CEOs have Twitter accounts and none write blogs. While Berkshire Hathaway CEO,Warren Buffett now has more than 8,000 Twitter followers on his Twitter account, he only posted one tweet on February 20. Procter & Gamble CEO Alan Lafley now has 55 followers on his Twitter account but no updates.

As for LinkedIn, 13 CEOs have profiles but only three have more than 10 connections. The most connected CEOs on LinkedIn are Michael Dell with more than 500 connections, Gregory Spierkel at Ingram Micro with 213 connections and John Chambers at Cisco with 82 connections.

There are about 19 CEOs on Facebook but those who lead the pack don’t have very many friends. Kenneth Lewis at Bank of America has 13 friends, John Strumpf at Wells Fargo has 12 friends and Vikram Pandit at Citigroup has only 8 friends. And, Rex Tillerson, CEO of Exxon Mobil, doesn’t have any Facebook friends.

The research was conducted between May 29 and June 16 and UBERCEO tried to weed out fake Twitter, LinkedIn and Facebook accounts in its analysis but notes that some might have been unintentionally counted.

So why do so few CEOs engage in social media?

While regulations affect how and when CEOs communicate, I suspect the real reason is a lack of time. This post from the blog Museum 2.0 details the time required to engage in social media and estimates that it takes 1-5 hours per week to be a participant using Twitter, Facebook, and other social networking sites. But, starting a blog or podcast is a much bigger time investment of about 5 to 10 hours per week. This may explain why none of the Fortune 100 CEOs blog.

Still, UBERCEO makes the point – and rightly so – that since CEOs aren’t communicating in the same way as their employees, partners, executives and customers that it makes them seem distant, disinterested and disengaged. At the very least, CEOs could delegate the task of managing their social media accounts. It’s not ideal, but at least it would help keep people from hijacking their identities online.

# Article re-blogged from Business Week.

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Fortune 100 CEOs turn their backs on Social Media according to Business Week. Lack of time cited.#