CEO Exits Rising Over the Summer

Investing

Published: July 11, 2018 9:55 am

Last Updated: January 11, 2020 9:12 pm

In June 2018, 90 CEOs left their jobs, according to the latest report from outplacement firm Challenger, Gray & Christmas. That’s a year-over-year increase of 9% for the quarter but a decrease of 5% from the same month last year. The quarterly total is 15% lower than the 341 CEOs who left their posts in the first quarter of this year.

So far this year, 631 CEOs have left their posts, up 11% from the 567 who left their posts through the first six months of last year.

In all of 2017, a total of 1,160 CEOs left their jobs, down 7% from the prior year’s total of 1,248. Of the total, 11 were due to allegations of sexual misconduct, up from three in both 2015 and 2016.

Andrew Challenger, vice president of Challenger, Gray & Christmas, commented:

While companies are dealing with a strong economy and favorable tax breaks, they are also contending with labor shortages, a potential trade war, and uncertainty surrounding legislation, causing boards to rethink leadership.

The Government/Non-Profit sector leads all industries in departures this year with 118, 55% more than the 76 CEOs who left in this sector last year.

Computer companies announced 78 exits so far this year, 90% more than the 41 CEOs who left their posts through June 2017.

Health Care/Products firms have announced 66 CEO exits in 2018, and financial companies reported 59 through the year.

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