Last year brought 112 hospital CEO exits

Turnover among hospital CEOs was up 11 percent year over year in 2021, according to a report from Challenger, Gray & Christmas, an executive outplacement and coaching firm. 

"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. 

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars