February left us out in the cold in more ways than one. It proved to be a very poor month for executive changes with all 4 categories showing decline. Hopefully this proved to be more of a reflection of the hard winter weather than a barometer for the future.
Overall job growth, while continuing to inch up in both Canada and the USA, was also softer. The gains that are being realized are broad based, spanning industries. The incidence of job gains in the manufacturing sector have been lower than anticipated and energy sector cutbacks continue to have an impact, on both sides of the border in employment numbers not being stronger. Interestingly, despite the adverse weather, job growth in the construction related industries saw continued improvement.
Comparing February 2015 to February 2014, C Suite turnover last month saw declines in all 4 categories – CEO changes declined by -11%, CFO activity was down -27%, Board of Director’s changes declined -7% and overall C suite changes declined -6% over February of last year.
Similarly, February 2015 versus January 2015 executive changes were also down across the board. CEO changes were down -22%, CFO changes saw the most significant decline -47%, Board of Director activity was down -11% and overall C suite changed were down 19% over last month.
February 2015 C Suite turnover activities break down as follows:
Overall, analysts report that despite slower jobs growth in North America and the reduced level of C suite turnover, positive indicators like growth across a broad range of industries should result in a brighter outlook for the future.