The volatile year for the nation’s chief executive officer suites continued in August, with 101 CEO changes during the month, according to outplacement experts Challenger, Gray & Christmas Inc.
Last month’s tally was a 20 percent decline from a nine-month high of 126 in July, and was 30 percent lower than the 144 CEO exits in August 2008, Challenger Gray said.
For the year so far, CEO departures total 834, down 16 percent from 2008, when 992 CEO changes were announced between January and August.
“While we are still seeing more than 100 CEO exits per month, the pace of turnover has slowed significantly from last year’s record pace,” CEO John Challenger said. “This downward trend is likely to continue for the remainder of the year, as companies try to maintain their footing and stabilize operations after a stormy economic climate,”
“However, it is possible that turnover among CEOs will increase in 2010,” he said, “as some companies respond to the recovery by installing more growth-oriented leadership.”
Energy led all industries last month with 15 followed by 14 in the computer industry and 13 in health care.Â
For the year, health care CEO departures lead all sectors in turnover with 134, followed by the government/non-profit sector with 100. The computer sector has 88, while the technology sector as a whole – computer, telecommunication, electronics and e-commerce combined – has seen 153 CEO changes this year.
