CEO Exits Rising Over the Summer

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.

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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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