The pace of CEO turnovers in 2010 was virtually unchanged from the previous year despite some high-profile departures, including chiefs at Hartford Courant/Fox 61 parent Tribune Co. and drug maker Pfizer Inc., with research based in Groton.
Outplacement consultant Challenger, Gray & Christmas counted 1,234 CEO departures last year, seven more than in 2009. CEO exits peaked in 2008 at 1,484, the most since the Chicago firm says it began tracking them in 2000.
In December alone, 107 corporate chiefs called it quits, were ousted or retired, up 35 percent from 79 in November. That compares to 105 departures in December 2009, Challenger Gray said.
December’s most notable departure was that of Pfizer chief executive officer, Jeffrey Kindler, who announced his resignation as CEO and chairman amid declining share prices, expiring patents and reportedly failed products. He was succeeded by 30-year Pfizer veteran Ian Read.
Tribune CEO Randy Michaels resigned in October amid allegations that he and fellow executives engaged in boorish and sexist behavior at the Chicago media giant reorganizing in Chapter 11 bankruptcy.
