More CEOs have left their posts the first 6 months of 2022 than during any comparable period in at least 20 years.
That's according to the firm Challenger, Gray & Christmas, Inc.
The company says 774 CEOs have left their posts, up 20% from the 591 in the first half of last year.
The previous high was 728 exits announced in the first six months of 2006.
The following is an excerpt from Challenger, Gray & Christmas, Inc.
The number of CEO changes at U.S. companies fell 29% to 106 in June from 150 in May. It is 2% higher than the 104 CEO changes announced in the same month in 2021, according to a report released Wednesday by global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
Exits Rise Year Over Year
In the second quarter, CEO exits hit 379, up 13% from the 336 exits announced in the second quarter of 2021 and down 4% from the 395 CEO changes announced in the previous quarter.
So far this year, 774 CEOs have left their posts, the highest first half total since the firm began tracking monthly CEO changes in 2002. It is up 20% from the 591 CEO exits announced through June last year, and up 6% from the previous high of 728 exits announced in the first six months of 2006.
The labor market is still tight at the moment, despite increasing layoffs and a likely recession on the horizon.Andrew Challenger, Sr. Vice President of Challenger, Gray & Christmas, Inc.
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