Wednesday, December 11, 2013

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[IWS] Challenger: 94 CEOS LEAVE POSTS, 1,147 SO FAR THIS YEAR [11 December 2013]

Challenger, Gray & Christmas, Inc.

 

Press Release 11 December 2013

CEO Turnover Falls Again In November

94 CEOS LEAVE POSTS, 1,147 SO FAR THIS YEAR
http://www.challengergray.com/press/press-releases/2013-november-ceo-report-94-ceo-changes-health-govt-lead

or

http://www.challengergray.com/download/file/fid/85

[full-text, 5 pages]

 

CHICAGO, December 11, 2013 After four consecutive months in which departures among the nation’s chief executive officers totaled more than 100, the pace of turnover declined somewhat in November, with 94 CEOs announcing their exits during that month.  That is 9.6 percent fewer than the 104 who left their post in October, according to a report released Wednesday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

November CEO departures were down 16.1 percent from the same month a year ago when 112 were recorded.  Challenger has now tracked 1,147 CEO changes so far this year, 3.2 percent more than the 1,111 departures announced in through eleven months of 2012.

Due to continued changes in the health care landscape, this sector led all industries in November with 23 CEO departures, 15 of which occurred within hospitals and hospital systems.  Of those, six of the exiting CEOs went on to serve as high-level executives of other hospitals, usually as CEO.  To date, the health care sector has seen 247 CEO changes, which is the highest turnover among all sectors tracked by Challenger.

The second-ranked government and non-profit sector has seen just 165 changes at the CEO position in 2013, including 14 in November. Meanwhile, companies within consumer products, entertainment/leisure, financial, and industrial manufacturing each saw 6 CEOs leave their posts in November. The financial industry has experienced the third-most chief executive departures this year with 135.

“Areas in which consumers dictate financial health will undoubtedly undergo changes as the economy recovers,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.

Resignation was the most oft-cited reason for departure in November, with 26 CEOs citing it.  This brings the year-to-date total for resignations to 327.  Nineteen CEOs stepped down into other chief-level or board position last month. Another 16 retired, four were removed, and two left due to scandal.

 

# # #



CHIEF EXECUTIVE DEPARTURES

 

 

 

 

 

 

 

 

 

 

2013

2012

2011

2010

2009

2008

2007

January

113

123

96

89

113

134

114

February

110

104

92

132

82

114

127

March

86

94

99

119

114

123

103

April

94

90

103

101

78

112

126

May

104

99

103

125

115

115

144

June

94

99

113

107

105

126

105

July

128

83

104

88

126

124

88

August

113

104

104

95

101

144

124

September

107

95

108

111

105

140

112

October

104

108

91

81

89

125

96

November

94

112

82

79

94

104

132

December

 

103

83

107

105

123

85

TOTAL

1,147

1,214

1,178

1,234

1,227

1,484

1,356

Challenger, Gray & Christmas, Inc.©

 

 

 

 

 

CHIEF EXECUTIVE DEPARTURES

Public vs. Private

 

13-November

2013 YTD

2012 YTD

Private

79

922

865

Public

15

225

246

 

 

 

 

Copyright 2013 Challenger, Gray & Christmas, Inc.


CEO DEPARTURES

By Industry

 

 

12-Nov

13-Oct

13-Nov

12-YTD

13-YTD

Aerospace/Defense

2

 

 

12

9

Apparel

 

 

 

1

6

Automotive

1

 

2

17

11

Chemical

 

1

 

8

5

Commodities

2

1

 

4

6

Computer

13

6

5

115

111

Construction

2

2

2

15

12

Consumer Products

1

3

6

23

25

Electronics

5

6

4

31

26

Energy

3

1

4

48

41

Entertainment/Leisure

6

3

6

46

45

Financial

10

15

6

110

135

Food

4

 

1

24

32

Government/Non-Profit

23

18

14

162

165

Health Care/Products

18

29

23

212

247

Industrial Goods

3

4

6

32

38

Insurance

2

2

3

24

17

Legal

 

 

 

1

4

Media

1

2

3

29

32

Pharmaceutical

4

1

2

41

37

Real Estate

2

4

1

15

25

Retail

5

1

3

39

33

Services

1

1

1

51

30

Telecommunications

2

1

1

12

24

Transportation

2

3

1

27

21

Utility

 

 

 

12

10

TOTAL

112

104

94

1,111

1,147

 

 

Copyright 2013 Challenger, Gray & Christmas, Inc.


CEO DEPARTURES

By Reason

 

13-Nov

Y-T-D

Resigned

26

327

Retired

16

250

Step Down

19

200

New position in another company

12

163

Interim Period Ended

6

79

Acquisition/Merger

5

27

Ousted

4

27

Another position within company

2

20

Contract Dispute/Expiration

 

9

Scandal

2

9

Health

1

9

Financial Losses

1

8

Died

 

7

Bankruptcy

 

5

Legal Trouble

 

2

Differences with Board

 

2

Family

 

1

Leave of Absence

 

1

Liquidation

 

1

 

CEO DEPARTURES

Average Age, Tenure

 

Age

Tenure

 

2013

2012

2013

2012

January

52

61.3

7.9

6.9

February

56.6 

57.9 

 8.3

9.8 

March

54.2

62.1

 6.9

8.3

April

57.4

58

 10.3

8

May

62.2

62.2

 10.1

7.9

June

65.1

57.8

 13.9

8.4

July

57.8 

52.3

 10.1

6.8 

August

59.1

65.7

 8.9

8.9

September

57.8 

60.1

 7.9

8.2

October

65.0

68.5

 12.4

8.5

November

71.7

62.4

 11.2

7.3

December

 

66.5

 

  11.9

 

Copyright 2013 Challenger, Gray & Christmas, Inc.

 




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