Hospital CEO turnover slows

While hospital CEO turnover remains higher than the same period in 2022, the gap has narrowed.

The finding comes from a July 26 report from Challenger, Gray & Christmas, an executive coaching firm that examines CEO turnover in the U.S. on a monthly basis. 

Companies announced 907 CEO exits in the first six months of 2023, with 82 occurring in hospitals. 

The 82 moves within hospitals so far this year were up 49 percent from the 55 recorded in the same period of 2022. The number marks a narrower gap compared to earlier in the year. From January through May, CEO turnover was up 70 percent from the same period of 2022. From January through April, CEO turnover was up 72 percent from the same period of 2022. 

Across all 29 industries and sectors measured, the 907 CEO exits recorded in the first six months of 2023 were up nearly 15 percent from the 774 CEOs who left their posts in the first six months of 2022. It is the highest January to June total since Challenger, Gray & Christmas began tracking in 2002. The following sectors topped all industries for CEO changes in the first six months of 2023: government and nonprofits (219), technology (101), hospitals (82), and healthcare and healthcare products (72). 

"The economy is showing great resilience at the moment. We've seen a considerable number of changes this year, as leadership grapples with uncertainty in the coming months," Andrew Challenger, workplace expert and senior vice president of Challenger, Gray & Christmas, said in the report.

"Historically, on average, June is the slowest month for CEO turnover and layoff announcements. Mid-year is the fiscal year-end for many companies, and in many cases, major moves do not occur in this month," he added.

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