CEOs Quitting at Record Pace

Latest CEOs to Depart

In a sign of the uncertain times, CEOs are leaving their jobs at a record pace. Some executives are stepping down after clashing with their boards over strategy or performance. Others are retiring or leaving to pursue other interests, especially those nearing retirement age. This trend is being driven by several factors, including the economic fallout from the Covid-19 pandemic, heightened corporate governance, and increased stakeholder activism.

• Pat Gelsinger left VMware.
• Jane Fraser took over Citigroup after Michael Corbat stepped down.
• Starbucks CEO Kevin Johnson stepped down after five years, and Laxman Narasimhan is taking over.

Impact of CEO Turnover

CEO turnover can have a significant impact on companies. A new CEO may bring a fresh perspective and new ideas, but they may also need time to learn the ropes and build relationships with employees and customers. In some cases, CEO turnover can lead to instability and uncertainty within a company. In other cases, it can be a sign of a company that is struggling and in need of a change in leadership.

Reasons for CEO Departures

There are many reasons why CEOs leave their jobs. Some of the most common reasons include:

• Poor performance
• disagreements with the board of directors
• personal reasons, such as retirement or health issues
• pressure from investors or other stakeholders
• job offers from other companies

The Future of CEO Turnover

It is difficult to say whether the current trend of CEO turnover will continue. However, it is likely that the factors that are driving this trend will remain in place for the foreseeable future. This means that we can expect to see more CEOs leaving their jobs in the years to come.