After setting a record in 2008, CEO departures appear to be slowing this year, according to a Challenger, Gray & Christmas Inc. report.
CEO turnover was nearly unchanged in June, as 105 chief executives announced their departure during the month compared to 115 in May. The June level is 17 percent less than a year ago, when 126 CEOs announced they’d be leaving their jobs.
For the first half of the year, departures were down 16 percent compared to 2008. Companies announced 607 changes to their top positions during the first half, the lowest level since 356 were announced in the first half of 2004.
Challenger said companies may want to maintain stability in the corner office. “It’s not as if new leadership is going to help a company defy this downturn,” the global outplacement firm said.
