December 2008 showed that turnover levels in the boardroom and c-suite continued to decline compared to all key executive sectors in 2007, according to Liberum Research.
Turnover in 2008 steadily declined as the fallout from the economic crisis ensued, leading to record unemployment numbers throughout the United States. As the economy continues to flounder, it looks as though companies are holding fast to their current executive and boardroom teams to wade through the crisis and strategize for the challenges ahead.
“The numbers for the entire year [of 2008] show it [decline in turnover] even better,” says Richard Jacovitz, senior vice president of Liberum Research. “This is really apparent when you look at the general unemployment numbers overall which remain awful and are getting worse.”
| CEO Changes December 2008 | |||||||
| Management Change Description | |||||||
| Status | Internal | Joining | Leaving | Promotion | Resigned/Retired | Terminated | Totals |
| TOTALS | 35 | 42 | 0 | 36 | 32 | 0 | 145 |
| Percentages | 24% | 29% | 0% | 25% | 22% | 0% | 100% |
| Board of Director Changes December 2008 | |||||||
| Management Change Description | |||||||
| Status | Internal | Joining | Leaving | Promotion | ResignedRetired | Terminated | Totals |
| TOTALS | 40 | 210 | 2 | 38 | 87 | 0 | 377 |
| Percentages | 11% | 56% | 1% | 10% | 23% | 0% | 100% |