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C Suite Market Update - May 2015

May 2015

Canadian employment rates bounced back solidly in May with the highest level of activity continuing to come in the manufacturing (largely fueled by the lower Canadian dollar) and healthcare related industries. The finance, insurance and real estate industries also realized positive gains. Ontario realized the largest gains with British Columbia coming in a healthy second.

South of the border, employment increased by 280,000 according to the U.S. Bureau of Labor Statistics. According to the President & CEO of ADP, 200,000+ jobs per month is seen as a bellwether for healthy employment growth. The most significant job gains occurred in professional and business services, leisure and hospitality, and health care. Overall, most industry sectors saw increased hiring activity – with the exception of mining, which continues to decline.

In looking at executive changes, comparing May 2015 to May 2014, we saw declines in all 4 categories. May 2015 overall C-Suite changes decreased by 7% over the same month last year with CEO changes down by 16%, CFO changes down 14% and Board Changes down by 16%.

Month over month changes in 2015 told a decidedly different story with all 4 categories showing increases. May 2015 versus April 2015 increases were as follows: CEO +9%, Overall C-Suite +11%, Board Changes +9% and CFO changes coming in at a staggering +32%.
 
May 2015 C Suite turnover activities break down as follows:

  • CEO changes, -16%. A total of 180 changes with the largest number of changes occurring in energy, drugs/biotech and banking. Last month's changes occurred primarily in banking, energy, drugs/biotech and manufacturing.
  • CFO changes, -14%. A total of 212 changes with the largest number of changes occurring in drugs/biotech, energy, food/drink and manufacturing. Last month's changes occurred primarily in drugs/biotech, business services, health services and manufacturing.
  • Board of Directors, -12%. A total of 511 changes with the largest number of changes occurring in banking, energy and drugs/biotech. Last month saw changes primarily in drugs/biotech, energy and banking.
  • Overall C suite, -7%. A total of 1408 changes with the largest number of changes occurring in energy, banking and drugs/biotech. Last month's changes occurred primarily in drugs/biotech, banking & energy.