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C Suite Market Update - June 2014

June 2014

Despite some slowdowns in a few sectors, C-level turnover for June 2014 continues to be in sync with positive news in overall job growth and modest declines in unemployment rates. CEO turnover June 2014 versus June 2013 declined by 14%, CFO turnover in the same period rose by 10% and combined C-level and Board of Director turnover declined 15%. Month to month changes - May 2014 versus June 2014 were as follows: CEO turnover declined 23%, CFO turnover declined 27%, overall C-Suite turnover declined 20% and Board of Director turnover declined 12%.
 
Executive turnover activities break down as follows:

  • CEO changes, -23%   A total of  163 changes with the largest number of changes occurring in drugs, automotive and energy. Last month's changes occurred primarily in energy, drugs and health services.  
  • CFO changes, -27%   A total of 181 changes with the largest number of changes occurring in drugs, automotive and energy. Last month's changes occurred primarily in business services, drugs/biotech and energy.
  • Board of Directors,  -12%   A total of 376 changes with the largest number of changes occurring in drugs/biotech, banking and energy. Last month saw changes primarily in drugs/biotech, energy and business services.
  • Overall C suite, -20%.  A total of 1206 changes with the largest number of changes occurring in drugs/biotech, banking and energy. Last month's changes occurred in drugs/biotech, business services and banking.

Overall, the turnover trend has been one of consistency for North American public companies. Despite the summer being traditionally a slower time for executive turnover, we anticipate that we'll see fairly steady activity for the summer and early fall.