August saw a double whammy of declines in executive turnover! Declines were significant both from August last year and from last month. Year over year declines in August were as follows: overall C Suite declines came in at 20%, CEO turnover was down 24% and Board changes declined 25%. The only increase was a mere 1% of CFO’s turning over this August versus August 2013. Month to month declines for overall C suite were 26%. CEO and Board changes declined 30% and 29% respectively. However, CFO changes saw a healthy rebound of + 32%.
Executive turnover activities break down as follows:
Indications are that these declines are simply an anomaly and that we’ll see a recovery of activity in September and for the balance of the Fall. Looking at the past 6 months, it is interesting to note that the sectors realizing the most consistent executive turnover are drugs/biotech, banking and energy.