Fewer U.S. corporate chiefs quit their posts in November than the previous month and the fewest in a year, a Challenger, Gray & Christmas survey says.
There were 82 CEO changes last month, nine fewer than October and the least since the 79 departures recorded in November 2010, Challenger Gray said.
The total number of departures recorded this year remains slightly below the 2010 pace. So far, the Chicago outplacement services firm has tracked 1,095 CEO departures, 2.8 percent fewer than the 1,127 CEO changes announced from January through November last year.
Firms in the health care industry saw the heaviest turnover activity last month with 19 announced CEO departures, bringing the year-to-date total for the sector to 175, the highest number of CEO departures among all industries.
The government and nonprofit sector had the second-highest monthly total in October with 12 departures. These organizations have experienced 139 CEO changes to date.
Meanwhile, the financial sector saw nine CEO departures last month, including Jon Corzine who headed investment giant MF Global since early 2010. His reign ended when risky bets on foreign debt failed to pay off and the firm had to declare bankruptcy and job loss for all 1,066 employees.
The majority of chief executives (23) said they were resigning while 17 retired. Thirteen found new positions in other companies. Three left amid bankruptcies while two left due to a merger or acquisition.
