Q1 hospital CEO exits outpace 2022

Companies announced 418 CEO exits in the first three months of 2023, with 54 occurring in hospitals and health systems, according to one new analysis.

The finding comes from an April 18 report from Challenger, Gray & Christmas, an executive coaching firm that examines CEO turnover in the U.S. on a monthly basis.

The 54 moves within hospitals in the first quarter of 2023 were up 86 percent from the 29 announced through March last year. The number marks the second-highest CEO turnover across 29 industries, behind only government and nonprofits. In March 2023 alone, hospitals announced 13 CEO exits, up from three in March 2022. 

Across all 29 industries and sectors measured, the 418 CEO exits recorded in the first three months of 2023 were up 6 percent from the 395 CEOs who left their posts in the same period of 2022. It is the highest first-quarter total since 2020. The following sectors topped all industries for CEO changes in the first three months of 2023: government and nonprofits (85), hospitals (54) and technology (50).

"Companies are undergoing a significant amount of change as they respond to economic challenges, higher costs and talent management issues," Andrew Challenger, leadership expert and senior vice president of Challenger, Gray & Christmas, said in the report.

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