127 CEOs Leave in February; 19 CEO Changes in Computer Industry on Shifting Strategies

Chief executive officer departures announced in February jumped 11.4% to 124 from the 114 announced in January. The February figure was 13.4% higher than the 112 CEO changes in February 2006, according to Challenger, Gray & Christmas survey data.   

For the first time since 2005, average tenure of outgoing CEOs reached double digits – 10.9 years in February. Over the last 14 months, CEO changes have averaged 123 per month. 

  • Some 52% of the departing CEOs in February either resigned or stepped down.  

  • 30% of CEOs retired as the overall average age of outgoing CEOs rose to 57 from 53.8 in January.  

The computer industry, where many companies shifting strategies, experienced the highest turnover, with 19 CEO offices changing hands.  

Most companies in February decided that insiders would be the best option as replacement CEOs with 61% of the 96 companies providing details about successors selecting internal executives.

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