Healthcare leads in CEO turnover, survey finds

Healthcare companies, which historically have rotated their CEO ranks at a fast clip, have continued that trend so far in 2009, a new study finds.

Healthcare led all other sectors in CEO turnover, with at least 151 top executives leaving their posts between January and September, according to a study by outplacement firm Challenger, Gray & Christmas. The Chicago-based firm noted that CEOs at providers are coming under increasing financial pressures as they decide whether to close operations or to raise additional revenue.

Other observers have also noted that the prospect of impending reform from Congress may be encouraging top executives to think about retiring rather than face massive changes toward the end of a career. Contrary to other reports, the Challenger, Gray & Christmas study found that overall fewer CEOs have left their posts in 2009 compared with the same period in 2008, when 206 CEOs had left by September. Across all industries the top reasons cited for CEO departures in 2009 were resignation and stepping down, followed by retirement. (For a more on CEO turnover, please see A retiring bunch.)

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