ECONOMY STILL AN ISSUE AS RECOVERY LOOMS
CHICAGO, November 11, 2009 – October saw 89 chief executive
officers leave their posts, 15 percent fewer than September’s 105 and 29
percent lower than the 125 CEO departures recorded in October 2008,
according to the latest report on CEO turnover released Wednesday by global
outplacement firm Challenger, Gray & Christmas, Inc.
October marked the eighth time this year that CEO turnover was lower
than the same month a year ago.
So far this year, 1,028 CEO changes have been announced, 18 percent
fewer than the 1,257 departures tracked by this point a year ago. This year’s
10-month total is the lowest since 2004, when CEO changes numbered 561
through the end of October.
The financial industry experienced the heaviest CEO turnover last
month with 19 top executives leaving their posts. While job cuts in this sector
have declined steadily since the beginning of the year, volatility continues at
the top of the corporate ladder. Financial firms have had 106 CEO departures
this year, or about 1 in every 10 exits.
