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C Suite Market Update - October 2014

October 2014

After two months of significant activity decline, C Suite turnover sees a healthy jump ahead in October. Although still lagging year over year we’re going in the right direction and positive momentum should continue to build. October’s numbers are back in sync with the most recent Statistics Canada, U.S. Government's Bureau of Labor Statistics and ADP's employment reports.

Declines were less significant from October last year with the numbers breaking out as follows: overall C Suite declines came in at 4%, CFO turnover declined 9% and Board changes declined 12%. CEO turnover in October 2014 saw a slight increase of 1% over October 2013. Activity in October 2014 v/s September 2014 was very positive with turnover numbers as follows: overall C level changes +16%, CEO's +22%, CFO's +4% and Board of Director changes +25%.
 
Executive turnover activities break down as follows:

  • CEO changes, +1%. A total of 213 changes with the largest number of changes occurring in drugs/biotech, energy, retail and metals/mining. Last month's changes occurred primarily in banking, drugs/biotech, insurance and manufacturing.
  • CFO changes, -9%. A total of 191 changes with the largest number of changes occurring in drugs/biotech, energy, real estate and software. Last month's changes occurred primarily in business services, energy, drugs/biotech and manufacturing.
  • Board of Directors, -12%. A total of 452 changes with the largest number of changes occurring in drugs/biotech, banking and energy. Last month saw changes primarily in drugs/biotech, banking and business services.
  • • Overall C suite, -4%. A total of 1420 changes with the largest number of changes occurring in drugs/biotech, banking and energy. Last month's changes occurred primarily in drugs/biotech, banking and business services.

As mentioned in both our August and September 2014 reports, these past two months of significant declines were out of sync with broader employment market activity in North American. October’s numbers put us back in line and we anticipate that the year will end on a positive note.