Chief executive officer departures dropped 5.8% in August from a six-month high in July, with turnover down year over year so far in 2017, according to data from Challenger, Gray & Christmas Inc. But certain industries are losing the leaders of their C-suites far more than others.
“While CEO changes have decreased year over year, we are seeing some industries with considerable increases in CEO exits compared to last year,” Challenger said in a note on Wednesday, Sept. 6.
CEO exits at commodities firms have jumped a massive 900% this year, with a focus on executive changes in mining and metals. The services sector has also recorded a 200% increase in CEO changes from last year.
Seven hundred and sixty-five CEOs have announced their departures so far this year through August, down 7.2% from the same period last year. The number of CEO exits dropped 11.9% this August from last year.
While commodities and services sectors have notched considerable CEO departure increases over last year, the government/non-profit industry leads the rest this year with 15.2% of all CEO exits so far in 2017.
About 32% of overall reasons for departure this year were cited as stepping down into another position within the company, Challenger said. Retirement accounted for 26% of CEO exits.
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