Turnover among the nation’s chief executive officers declined for the second consecutive month in April, down 15 percent from March, outplacement specialist Challenger, Gray & Christmas says.
Last month, 101 CEOs announced their departures, down from 119 departures in March, Challenger Gray said Wednesday.
Despite the decline, the April total was 29.5 percent higher than the 78 chief executive changes recorded in April 2009. For the year, 441 CEOs have left their posts, an increase of 14 percent over 2009.
 The healthcare sector led all industries in CEO turnover in April with 25 departures, the most in one month for any industry since July 2009, when healthcare saw 26 chief executive changes, the survey showed. So far this year, 81 CEOs have left their posts at companies in the healthcare and healthcare product manufacturing sector.
Meanwhile, the second-ranked government/nonprofit sector has seen just 57 CEO exits this year, including 12 in April. The financial industry had 11 CEO changes last month – including the resignation of Philip R. Sherringham from People’s United Bank in Bridgeport — bringing the year-to-date total to 40.Â
Retirement was the leading reason behind April departures, accounting for 30 of the 101 announced exits. Twenty-three CEOs resigned. Retirements and resignations are the most common reasons for departures in 2010, with each cited 125 times.Â
Three CEOs were removed from their positions in April and two were forced out due to pressure from their boards. Thirteen found new positions in other companies last month.
“We have entered what is expected to be a volatile period for CEO turnover,” said CEO John A. Challenger. “Companies are making the transition from recession to recovery, and with that usually comes a transition in leadership.”
