Record CEO Exits Plague US Public Companies

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Despite historically high pay, CEOs are leaving publicly traded US companies in record numbers, driven by a booming stock market and fears of economic turmoil in 2025.

Chief executives of publicly traded US companies are leaving in record numbers despite historic pay bonuses as the booming stock market and fear of turmoil in 2025 has prompted executives to exit. In the year to November, 327 chief executives at US public companies announced they were leaving, exceeding the record 312 exits in 2019, according to Challenger Gray, a consultancy.

A number of tumultuous CEO exits occurred at blue-chip companies as leaders at Boeing (Dave Calhoun), Intel (Pat Gelsinger) and Nike (John Donahoe) stepped down this year amid sinking share prices. The exits have contributed to a falling tenure for the role. In the third quarter, eight CEOs left after lasting less than three years in the position, the highest number of short-term appointments since 2019, according to consultancy Russell Reynolds. With president elect-Donald Trump promising tariffs and threats to free trade, CEOs overseeing global supply chains are retiring — or are considering it — rather than face the looming headache, people who advise CEOs have said. “Some sectors will find CEOs saying ‘I am going to step out before I have to deal with all this,’” said one executive adviser, who requested anonymity to speak freely. Increasingly, public company CEOs are considering taking jobs at private companies, said Rich Fields, head of the board effectiveness practice at Russell Reynolds. “There are places where you can make more money than being the CEO of a public company, and the growth of private capital is a big part of that,” he said. Private companies are not subject to the same disclosure rules, while they generally pay with equity more liberally, he said. “Should a company blow the lights out, a CEO can make more money on the top end than if you are in a public company and constrained by what your peers are doing and shareholders,” Fields said

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