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C Suite Market Update - April 2015

April 2015

Canada had a bit of a rollercoaster ride in employment in April with reports of a loss of close to 20,000 jobs. However on the positive side the unemployment rate remained unchanged as many of the job losses were in part-time roles and were offset by increases in full-time roles and accelerated wage growth. Another positive, comparing this April to April 2014, Canada saw employment up by almost 140,000 jobs. As well, many of the job gains were realized in the more desirable private sector. Many of the part-time job losses in April 2015 were attributed to the closure of Target in Canada. Despite the ups and downs, economists predict that the foundation is solid for renewed growth in the second quarter.

The USA realized somewhat over 200,000 hires in April – however the unemployment rate was virtually unchanged. Job gains occurred primarily in professional and business services (representing close to 1/3 of the hires), construction and healthcare. The mining sector saw the most significant declines – with the balance spread over a number of industry categories.

In looking at executive changes, comparing April 2015 to April 2014, we saw declines 3 out of 4 key categories. While CEO changes increased by 7% over April last year, CFO, overall C-Suite and Board changes declined by 4%, 9% and 12% respectively.

April 2015 versus March 2015 executive changes represented a somewhat different scenario. CEO changes declined by 9%, CFO changes declined by 5% - however – overall C-Suite changes realized a small increase of 2% and Board changes realized a 12% increase over last month.
 
April 2015 C Suite turnover activities break down as follows:

  • CEO changes, +7%. A total of 163 changes with the largest number of changes occurring in banking, energy, drugs/biotech and manufacturing. Last month's changes occurred primarily in drugs/biotech, business services and energy.
  • CFO changes, +4%. A total of 161 changes with the largest number of changes occurring in drugs/biotech, business services, health services and manufacturing. Last month's changes occurred primarily in drugs/biotech, food and health services.
  • Board of Directors, -12%. A total of 435 changes with the largest number of changes occurring in drugs/biotech, energy and banking. Last month saw changes primarily in drugs/biotech, energy, banking and health services.
  • Overall C suite, -9%. A total of 1270 changes with the largest number of changes occurring in drugs/biotech, banking & energy. Last month's changes occurred primarily in drugs/biotech, banking and business services.