CEO Changes Surpass 2011 Pace, 112 in November

The end of the year appears to be bringing increased volatility in the executive suite.  Turnover among the nation’s chief executive officers increased for the second consecutive month in November, as the number of announced departures reached a 10-month high of 112 during the month, according to the latest report released Wednesday by global outplacement firm Challenger, Gray & Christmas, Inc.

The November was up 3.7 percent from the 108 CEO exits reported in October.  Last month’s total was 37 percent higher than November 2011, when chief executive departures totaled 82, which were the fewest monthly changes recorded in 2011.

With the November increase, year-to-date departures surpassed the 2011 pace for the first time this year, though not by much.  Through eleven months, Challenger has tracked 1,111 CEO departures, which is 1.5 percent more than the 1,095 CEO changes announced from January through November last year.

Firms in the government and non-profit industry saw the heaviest turnover activity last month with 23 announced CEO departures, bringing the year-to-date total for the sector to 162.  That is down slightly from the sector’s 2011 eleven-month total of 175.

The health care industry had the second-highest monthly total in November with 18 departures.  These organizations have experienced 212 CEO changes to date, the most of any industry this year.  Meanwhile, firms in the computer sector saw 13 CEO departures last month, including Intel’s announcement that long-time chief Paul Otellini will step down.

Get the full report here.


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