Top Office Turnover Steady In August
September 7, 2011 by UPI - United Press International, Inc.
CHICAGO, Sept. 7 (UPI) — The total number of U.S. top corporate executive departures held steady in August, one celebrity notwithstanding, a private research group said Wednesday.
In August, 104 chief executive officers left their jobs, either through resignation, job change, firing or job title elimination, consulting firm Challenger, Gray & Christmas said. The number was unchanged from July, the report said.
But one chief executive officer’s exit triggered coast-to-coast headlines in August. “The iconic CEO of Apple Inc.,” is how the monthly report described Steve Jobs, who achieved celebrity status during his years leading, leaving, then returning to and resuscitating the Silicon Valley company.
Jobs took a new job at Apple: Chairman of the Board, leaving the CEO duties to Tim Cook, who had been serving as the firm’s chief financial officer.
For the year, “We are seeing an average of just over 100 CEO changes per month, which is about the same as last year and the year before that,” CEO John Challenger said.
“The steady pace of CEO turnover over the last 2 1/2 years could indicate that companies are waiting to see how the recovery plays out before making any dramatic changes in leadership.”