Turnover among chief executive officers declined in August, with 101 changes recorded, a 20 percent drop from a nine-month high of 126 in July, according to a report. For the year, CEO departures total 834, down 16 percent from 2008, when 992 CEO changes were announced between January and August said the Challenger, Gray & Christmas report, a Chicago-based outplacement firm, said the Puget Sound Business Journal. The August total is the second lowest of the year. “While we are still seeing more than 100 CEO exits per month, the pace of turnover has slowed significantly from last year’s record pace. This downward trend is likely to continue for the remainder of the year, as companies try to maintain their footing and stabilize operations after a stormy economic climate,” said John Challenger, CEO of Challenger, Gray & Christmas. Energy led all industries last month with 15 CEO departures, followed by 14 in the computer industry and 13 in health care. For the year, health care CEOs are leading all sectors in turnover with 134, followed by the government/nonprofit sector with 100.The most common reason for August CEO departures was resignation, accounting for 25 of the 101 exits.
CEO Departures Down 20 Percent in August
For the year, CEO departures total 834, down 16 percent from 2008, when 992 CEO changes were announced between January and August.
September 10, 2009