“We saw a spike in CEO exits in October, which aligned with a high quits rate and record job openings,” Andrew Challenger, senior vice president of Challenger, Gray & Christmas, said in a news release. “Turnover began to slow as supply chain issues and another wave of COVID cases arrived, causing companies to retain their leaders to weather the storm.”
Here are five takeaways from the report:
1. Hospitals announced 112 CEO exits last year, compared to 101 CEO departures in 2020.
2. Of the 29 industries analyzed for the report, hospitals had the fourth-most CEO exits last year.
3. Eight hospital CEOs left their roles in December, double the number from the same period in 2020.
4. In the healthcare and products sector, which the firm tracks separately from hospitals, CEO turnover was down nearly 5 percent year over year.
5. Across all industries, the leading cause of exits in 2021 was from CEOs “stepping down” from their posts. Seven CEOs exited amid scandal and professional misconduct, including allegations of racism and sexual misconduct, according to the report.
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.
