F.R.| Through October of this year, some 1,425 CEOs have left their positions at US companies across all industries and statuses, 47% more than the same period last year and the highest number since 2002, according to the latest quarterly Challenger CEO Turnover Report from talent consultancy Challenger, Gray & Christmas. In the third quarter alone, there were 518 CEO departures – mostly from government organisations, NGOs or healthcare companies – 166% more than in the same period last year.
“Companies are preparing for economic changes in the coming months. Faced with rising labour costs and interest rates, companies are looking for new leaders,” explains an expert from the firm that compiled the report.
Some 31% of the companies do not give explanations for the departures. Among those that do, the top two reasons are retirements or resignations and layoffs in the strict sense of the word.
