Report: baby boomer CEO exits on the rise
The number of CEOs leaving US companies surged in November, according to a new report. There were almost 100 exits for the month, roughly twenty more than were reported in October. The report, from global outplacement firm Challenger, Gray, & Christmas, Inc., shows that these exits were not replacements or instances of “stepping down” to pursue other opportunities, either. For thirty-seven of the executives, retirement was the primary reason for leaving, the most retirements in a single month since January 2020. The larger trend of CEO exits may have some staying power, too. Andrew Challenger, the firm's senior vice president, predicts, “We may begin to see large numbers of CEO changes as we enter 2023 amid an economic downturn.
