CEO Departures in May Down Slightly From 2011

June 6, 2012
Government and health care sectors report the highest CEO attrition rates in May jobs study.

The number of U.S.-based CEOs leaving their jobs in May was lower than a year ago but up slightly from April, when 90 CEOs left their posts, according to a CEO turnover report released Wednesday by Challenger, Gray & Christmas Inc.

In May, 99 CEOs announced their departures, down from 103 in May 2011.

The majority of CEO departures occurred in the health care and government/nonprofit sectors, with 19 changes for each industry.

The health care sector includes hospitals and other health care systems as well as manufacturers involved in health care products such as medical devices.

The computer industry reported the third most CEO departures with 11 top executives leaving their posts. Other manufacturing-related sectors including energy, pharmaceutical, chemical and industrial goods experienced five or fewer CEO departures in May.

Through May, a total of 510 CEOs have left their jobs in 2012, up from 493 CEO exits during the same period last year.

The majority of departures were related to resignations and retirements.

CEO exits have been rising as merger and acquisition activity increases during economic-recovery periods, Challenger, Gray & Christmas reported.

See also:

Monthly CEO Exits Reach Highest Level Since May 2010

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