In November, CEO and director changes declined in 2008, compared with the same time period in 2007. November CEO changes in 2008 declined 32 percent from November 2007 and director changes declined 39 percent from November 2007, according to Liberum Research.
Richard Jacovitz, senior vice president of Liberum Research, attributes the drop in CEO changes to many workers are losing jobs. “I do expect this decline to shift probably sometime in February of next year,” he says. “Boards will begin putting far more pressure on current corporate leaders to perform—or else…”
Jacovitz also sees that boards will be increasingly hiring directors from the outside.
