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C Suite Market Update - August 2014

August 2014

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:

  • CEO changes, -24%. A total of 157 changes with the largest number of changes occurring in drugs/biotech, retail, banking and business services. Last month's changes occurred primarily in drugs/biotech, business services and banking.
  • CFO changes, +1%. A total of 158 changes with the largest number of changes occurring in energy, drugs/biotech and banking. Last month's changes occurred primarily in drugs/biotech, banking, business services and energy.
  • Board of Directors, -25%. A total of 395 changes with the largest number of changes occurring in drugs/biotech, energy and business services. Last month saw changes primarily in drugs/biotech, banking and energy.
  • Overall C suite, -20%. A total of 1157 changes with the largest number of changes occurring in drugs/biotech, energy and banking. Last month's changes occurred in drugs/biotech, business services and banking.

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.