CHICAGO, IL--A new survey has found a record number of Chief Executive Officers have left their jobs this year.
According to executive coaching firm Challenger, Gray and Christmas, Incorporated, 1,332 CEOs have left so far in 2019, with 172 of them stepping down last month alone.It's a 13 percent increase from January through October of 2018.
“October was marked by a number of high-profile CEO exits, with many being held accountable for various missteps, whether in their professional handling of the company or in their personal lives,” said Andrew Challenger, Vice President of Challenger, Gray & Christmas, Inc.
Prior to this year, the largest number of CEO exits in the same time period took place during the Great Recession in 2008, when more than 12-hundred left.
The number is now the largest total since the company began keeping tabs on CEO departures nearly two decades ago.Government and Nonprofits saw the greatest number of departures.
“Government firms are, in some cases, grappling with new legislation or political changes that influence leadership. Similarly with non-profits, CEOs often need to work with government officials for funding and priorities may have changed. Still more CEOs at these organizations are stepping down into other roles, typically to fundraise, and new leadership is being appointed,” said Challenger.
Technology and financial companies have seen the second largest number of departures according to the study.