June CEO Turnover Hits 99, Matches Last Year’s Pace

The number of chief executive officer departures reached 99 in June, unchanged from May’s total and falling 12 percent from the 113 CEO changes recorded in June of 2011, according to the latest report on CEO turnover released Wednesday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

June marked the end of a slightly less active quarter for CEO turnover.  For the three-month period ending June 30, a total of 288 CEO departures were announced, a 10 percent decrease from the 321 departures announced in the first quarter.  The second quarter total was down 9.7 percent from the same period a year ago when 319 CEO changes were announced.

Challenger has now tracked 609 CEO changes so far this year, which virtually equal to the 606 departures recorded in the first six months of 2011.

For the year, health care continues to see the heaviest turnover.  It leads all other sectors with 127 in 2012, including an industry-leading 28 in June.  The year-to-date total is a whopping 42.6 percent higher than the 89 health care CEO changes recorded in the first half of 2011.

Computer companies announced 10 CEO changes last month, bringing the 6-month total to 61. The computer sector is the third highest industry in turnover so far this year, preceded by the government/non-profit sector which has seen 83 CEO departures this year. Firms in the financial sector have seen 48 CEO changes in the first half of the year, with 6 in June.

Read the full report here.


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