April CEO Departures Reach 94, Financial Leads

Turnover among the nation’s chief executive officers rose slightly in April as 94 announced their departures during the month.  That is 9.3 percent higher than the 86 CEO exits in March, according to the latest report on chief executive officer turnover released Wednesday by global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc.

April departures were 4.4 percent higher than the same month a year ago, when 90 CEO changes were recorded.

Through the first four months of 2013, 403 CEO departures have been announced, which is 2.0 percent fewer than the 411 tracked over the same period in 2012.

Get the full report here.

86 CEOs Left Their Posts In March

Turnover among the nation’s chief executive officers plummeted to an eight-month low in March as 86 CEOs announced their departures during the month.  That represents a 21 percent decline from 110 CEO exits in February, according to the latest report on CEO turnover released Wednesday by global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc.

The March total is 8.5 percent lower than the same month a year ago, when 94 CEO changes were recorded. It was the lowest monthly total since 83 CEO changes were announced in July 2012.

Through the first three months of 2013, 309 CEO departures have been announced, which is 4.1 percent fewer than the 321 tracked in the first quarter of 2012.  The quarterly total is 4.3 percent lower than the 323 CEO changes in the final quarter of last year.

The healthcare sector has seen the heaviest CEO turnover so far this year, with 59 CEO changes announced through March.  The number of changes in the sector is down slightly from a year ago, when 63 first-quarter departures were announced by hospitals and other health care providers.  Health care has consistently seen the heaviest turnover over the last several years.  Last year, turnover in the sector increased 23 percent after falling to a six-year low in 2011. 

Get the full report here.

110 CEOs Leave Their Posts In February

The number of chief executive officers who left their posts decreased slightly in February as 110 CEOs left their posts during the month, according to the monthly report on CEO turnover released Thursday from global outplacement firm Challenger, Gray & Christmas, Inc.

The February total was 6 percent higher than the same month last year when 104 CEOs left their positions and three percent lower than the 113 recorded in January.

So far this year, 223 CEOs changed positions, virtually unchanged from the 227 recorded during the same two-month period last year.

The health care sector led all others with 20 departures, nine of which came from hospitals and hospital systems. Financial followed with 18 departures this month, mostly at credit unions and banks. That is the highest monthly total for that industry since Challenger began tracking.

Thirteen CEOs left their posts at government/non-profit entities. Retailers had nine CEO departures last month, including CEO changes at RadioShack, Toys ‘R Us, Michael’s Stores, Ulta and REI. In fact, REI’s former CEO Sally Jewel is President Obama’s choice for Secretary of Interior.

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113 CEOs Change Positions in January

The first month of the new year saw the highest turnover among chief executive officers since the previous January as 113 CEOs left their posts during the month.  The January total is up 9.7 percent over December when 103 CEOs departures were announced, according to the latest report on CEO turnover released Thursday from global outplacement firm Challenger, Gray & Christmas, Inc.

The 113 CEO changes recorded last month were 10.3 percent fewer than January 2012, when 126 CEOs left their posts.

Health care products manufacturers and hospitals saw the heaviest CEO turnover in January with 23 departures.  Health care was followed by the computer industry, where 13 CEO changes were announced.  Financial firms announced 12 CEO changes, including E-Trade Financial’s Frank J. Petrilli, who stepped down as CEO but will remain with the company as Board Chairman.

Government and non-profit entities had 10 CEO changes, while retailers, pharmaceutical/biotech firms, and energy companies each saw six CEO departures.

Get the full report here.

2012 CEO Turnover Surpasses 2011 Total

The executive suite saw increased volatility as 2012 came to a close, with 323 chief executive officers leaving their posts in the final three months of the year.  That was up 26 percent from 256 CEO departures recorded during the same period a year earlier, according to the latest report on CEO turnover released Wednesday by global outplacement firm Challenger, Gray & Christmas, Inc.

December marked the third consecutive month in which more than 100 CEO changes were recorded.  A total of 103 CEO changes were announced last month, down eight percent from 112 in November.  December departures were up 24 percent from the same month in 2011, when 83 CEOs vacated their offices.

The year-end surge helped push the number of CEO departures recorded in 2012 to 1,214, which represents a three percent increase over the 1,178 exits recorded in 2011.

The 323 CEO changes announced in the third quarter were up 14.5 percent from the previous quarter.  It was the highest quarterly total since the fourth quarter of 2010 when 378 CEO departures were recorded.

“The increased pace of CEO turnover in the final months of 2012 could be indicative of a turning point in the recovery.  We may see heavy turnover continue into 2013 as the economy continues to improve and companies shake up management to reflect a change in strategy from one centered around maintaining stability to one focused on growth and expansion,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.

Get the full report here.

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. Continue reading

October CEO Turnover Jumps to 108

The abrupt resignation announced by Citigroup’s CEO Vikram Pandit was one of 108 departures tracked by Challenger last month. October saw the most CEO departures since 123 were recorded in January of this year, according to the report released Wednesday by global outplacement firm Challenger, Gray & Christmas, Inc.

October CEO turnover was up 13.7 percent from the 95 CEO changes recorded in September.  Last month’s total was 18.7 percent higher than the corresponding month a year ago, when 91 CEO changes were recorded.

Overall, the pace of CEO departures is down slightly from 2011.  So far this year, 999 CEO departures have been announced, 1.3 percent fewer than the 1,013 CEO changes tracked by this point last year.  Continue reading