From Nike to Intel, CEO departures at U.S. companies hit a record this year
Retired, ousted or poached, CEOs headed for the exits this year.
Retired, ousted or poached, CEOs headed for the exits this year.
U.S. public companies announced 327 chief executive changes this year through November, according to outplacement firm Challenger, Gray & Christmas.
That’s more than in any other year since at least 2010, when the firm first started tracking the turnover. It’s also an 8.6% increase from last year.
Turnover included CEOs at U.S. companies that have long dominated their industries — like Boeing, Nike and Starbucks. The pace of change points to those companies’ customers, investors, hedge funds or boards growing impatient with sales slumps or strategic missteps in an otherwise strong economy when consumers proved they were willing to spend.
CEO changes slowed during the pandemic, when companies were suddenly faced with lockdowns, remote work, supply chain difficulties and shortages, if not outright survival. They later faced higher borrowing costs, inflation, labor shortages, shifting consumer preferences and other challenges.
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