Record-breaking year for CEO departures. They know something is coming

  • During the first three quarters of 2019, 1,160 CEOs left their positions, according to the staffing firm Challenger, Gray, & Christmas.
  • This figure exceeds the number of CEOs who departed during the same nine-month span at the height of the 2008 recession (which saw 1,132 CEO departures).
  • The tech sector has seen the second-highest number of CEO departures, with 154 executives in that industry leaving their positions.
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More than 1,000 CEOs stepped down during the first three quarters of 2019, according to a report published by the staffing firm Challenger, Gray, & Christmas — 1,160 executives, to be exact.

Departures in the first nine months of this year exceeded the number of CEOs who stepped down during the first three quarters of 2008 (1,132), which was the height of the Great Recession. This is also the year with the highest CEO turnover in the first three quarters that Challenger, Gray, & Christmas has seen since the firm began tracking departures in 2002.

The tech sector has the second-highest number of CEO departures, at 154, including the high-profile departures of Adam Neumann from WeWork and Kevin Burns from Juul.

On Tuesday, the heads of Under Armour and Nike announcedwithin hours of each other that they were stepping down.

Of the CEOs who left their positions, 438 remained at their respective companies in different roles, 292 retired, and 103 moved to other companies, according to the report, which listed several other reasons for departures as well.

 

www.businessinsider.com/biggest-ceo-departures-wework-juul-ebay-warner-bros-metlife-2019-10