Tech
Why CEOs Are Quitting In Record Numbers In 2023
American CEOs are leaving their posts in record numbers in 2023.
While the “Great Resignation” may be over, it’s just beginning for CEOs, according to research by Challenger, Gray and Christmas. The firm found that more than 1,500 CEOs have left their posts so far in 2023, marking the highest number of departures since Challenger began tracking the data in 2002.
“There are at least four reasons why we’ve seen an uptick in CEO turnover over the past few months,” said Alexander Kirss, senior principal of research at Gartner. “Those would be delayed CEO retirement, CEO burnout, concerns about CEO underperformance. And then finally, high-performing CEOs who are taking this opportunity to level up to a more attractive opportunity.”
During times of unforeseen volatility such as the Covid-19 pandemic, companies typically keep their CEOs to help navigate through those times. However, when the economic environment normalizes, the board of directors’ appetite for risks returns. The search for new leadership begins from there.
For CEOs, the stress from heading a company during the pandemic is now exacerbated by headwinds from rising geopolitical tensions, lingering inflation and the possibility of a recession.
These trends not only affect CEOs, but they can also lead to cost cutting, hiring freezes and layoffs — all of which affect employees at every level.
Watch the video above to find out more about why American CEOs are leaving their posts and what these changes could mean for employees at every level.
Chapters:
0:00 Introduction
1:34 Ch 1. The great CEO resignation
4:04 Ch. 2. Employee impact
6:44 Ch. 3. What’s next?
Produced and Edited by: DeLon Thornton
Graphics by: Mallory Brangan
Supervising Producer: Jeff Morganteen
Additional Footage: Getty Images
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Why CEOs Are Quitting In Record Numbers In 2023
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Produced and Edited by: Ryan Baker
Camera by: Jeniece Pettitt
Reporter: Michael Wayland
Animation by: Jason Reginato
Senior Managing Producer: Tala Hadavi
Additional Footage: Hyundai
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5:27-8:25 What comes next
Reporting by Julia Boorstin, Lillian Rizzo, Alex Sherman
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Additional Footage Getty Images
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Additional Footage: Getty Images
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@mightyraptor01
January 17, 2024 at 11:45 am
Larry Fink is the most Corrupt and Leftist who needs to be removed.
@user-wz9tg3pw3r
January 17, 2024 at 11:45 am
Well the greatest depression is coming in like a year
@blorpblorpblorp
January 17, 2024 at 11:45 am
Won't somebody please think of the poor CEOs?
@slowbro1337
January 17, 2024 at 11:45 am
"Quite" you mean fired but allowed to resign. Limely able to keep bonuses as well
@justincadle7070
January 17, 2024 at 11:45 am
The CEO’s leveraged their companies during COVID and now the roosters coming home to Roost. They can now point the finger at the CEO and say we did something about it, he’s gone, we have new leadership now.
@greyangelpilot
January 17, 2024 at 11:45 am
Most are CEO's "Imposters" who possess Egos only matched by their deep seated insecurities. Many possess the Ivy League Educational Cred & are well versed CEO Speak/Lingo, Flexing it downward to subordinates. Invariably, they are followed by overly optimistic expectations. Few intimately know the businesses they "Run" from the Ivory Towers, nor have spent time in the trenches. yet are presumed to comprehend the granular aspect of the organism. Imagine that!
@user-bz4bp1ht4n
January 17, 2024 at 11:45 am
I guess its time to apply!
@jlcii
January 17, 2024 at 11:45 am
The CEO position is the only positions I know of that will hand you a year's salary when they fire you. Let the average worker at one of these warehouse, hospitality, or food service jobs get fired tomorrow, their job ain't handing them a $20,000-$30,000 paycheck. And you can be fired for some pretty insidious reasons, such as needing "too much" time off work to recoup from a horrible illness you contracted due in part to being overworked. But would that employer, having made thousands to millions of dollars off of your labor, hand you a severance package involving you getting a year's worth of pay on the end of your employment?
Nope! And they'll have every reason in the world why they feel you don't deserve it. But let you be a disgrace CEO who got fired because of some serious business, or even personal matters that you committed to other individuals or to the company while you were there, and they will still pay you upwards of 14 million for you to be fired. I wish somebody would have me 14 million dollars to get fired. But these companies and powers that be, of course, don't see anything wrong with that.
@CsSkelton
January 17, 2024 at 11:45 am
2023;1;3🗃️📑📖📰📕📩📥🔁☯️🔃🌏🧩🪟💋📁📒📕📝👪🙏📱📰📬정CHONG
@CsSkelton
January 17, 2024 at 11:45 am
뉴씨이요창출해야한닥.전씨이욘.ㄴ잘못인자덜로하던거다시새륜늘류간 씨요류창 ㄹ하기글롭ㄹ류벛내선짐ㅋ 머괄리하애시작하쌔여퓯.ㄹ륜굿참쥬하이단고ㅡㄹ햊 ㄹ스람짐쿠머류인오밤마내ㅇ크린덬영ㅂ 인과옵쁘라 ㄱ.ㅇ뮤닝아매카지앰애짐앰애3리크끄립쑨ㄴ ㅅ.ㅁ퀴비씨팀한국삼성현대랠해태 오ㄸ ㄱ자연융ㅇ ㅓㄴㅁㄷ.ㄹ류여글롭글로벌내순씨이요감당하우선차 차박낄수씀우선새핸전작애정해논것.ㄴ이해오던것들류다알고는패촌ㄷ.ㄹ륜거시라올건나스하깃 끼 때문드믹 ㄱ애걱고ㅡ한국팀함깨논이하여시도하기모임듀가능흔거대길일단정핸규새주목하역.들륭.견아라보기도음애아 푸로갈길래미래한팀이대길바라며태를라어 생각하너
ㅏ요끼맘이나요해듭요청함 5:13
@TurdFergusen
January 17, 2024 at 11:45 am
CEO pay is high because if it weren’t, what is the incentive to make multi billion dollar decisions for the benefit of the company instead of themselves?
@MrStrosty
January 17, 2024 at 11:45 am
Because the Epstein list is about to be released.
@brendanrichart4804
January 17, 2024 at 11:45 am
I feel so sorry for these CEOs 😢😂
@Bill0102
January 17, 2024 at 11:45 am
This is captivating work; reminiscent of a book that captivated me with its depth. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
@bloodlove93
January 17, 2024 at 11:45 am
I'll take one of the positions… don't get me wrong here,make no mistakes, i will absolutely be a detriment to the company… but i promise I'll only stick around for the first years paycheck.
@user-xh4gr6qt6r
January 17, 2024 at 11:45 am
If the CEO’s are bailing… it is probably bad times a coming
@berttorpson2592
January 17, 2024 at 11:45 am
Who cares
@kilsontackett2498
January 17, 2024 at 11:45 am
Why the heck are the regular employee's not getting a major cut of the $16.7M that the CEO's get paid? This is insane. No person deserves to be paid more than $1M a year nor less than $50K. Level the playing field for god sakes.
@Blaque_Magick
January 17, 2024 at 11:45 am
3:49 New CEO pay is constantly going up with inflation – funny how employee pay never seems to keep up with inflation
@nunyabidnez9004
January 17, 2024 at 11:45 am
Lol, employees don’t give a s**t about the CEO. 😂😂😂 I don’t have any clue who the CEO’s of my company are, let alone what their stances are.
@EricMHowardII-yh1rn
January 17, 2024 at 11:45 am
Does anyone care about this situation Compan Executive Officers quitting their jobs ?
@rainwear1
January 17, 2024 at 11:45 am
DEI is the main reason we are seeing CEO's go. Just read the headlines.
@User-pu3lc
January 17, 2024 at 11:45 am
CEO turnover is so high because a big recession is about to hit and it’s convenient for new CEO’s to “blame” the outgoing leadership for the company’s current position to both investors and employees as they are fired. Outgoing CEO’s are given a large pay package and/or given enough time to find a new role before this messaging hits.
It’s called “taking a bath” and is a common, well documented phenomenon in publicly traded company’s stock prices around CEO changes.
@karenorgan6203
January 17, 2024 at 11:45 am
They’ve squeezed the world as hard as they can, they see the writing on the wall. Time to retire and write a book
@JerseyMikes769
January 17, 2024 at 11:45 am
The supreme Court ruled that "a publicly traded companies primary responsibility is to it's shareholders"
Effectively making it illegal for stock to go down or stay stagnant in pursuit of sustainability, increasing worker pay, safety conditions etc.
@jamesstone1493
January 17, 2024 at 11:45 am
The CEO ‘s are realizing that a depression is just about here!!!!!
@sandydixson7999
January 17, 2024 at 11:45 am
Cowards are running
But can't hide
Every policy and procedures has a signature
No innocent victims
@u.s.a.198
January 17, 2024 at 11:45 am
Around age 45 I lost interest in the BS working in an office and the stupidness I encountered daily.
10 years later I never looked back. Worked alot of different jobs since then. Give me $15 a hour and some friendly people to work with…. This isn't hard and makes me happier !
I knew it was time to leave the office environment when I thought to myself "If I hear one more acronym I'm peeing on someone's feet" !
@nestordiaz2930
January 17, 2024 at 11:45 am
All it shows is that the shareholders have become so greedy that even CEO’s are not safe anymore.
@datafocus2859
January 17, 2024 at 11:45 am
I work for a very large mortgage company. Headline said they were retiring. Nope, he was forced out. A bunch of EVP’s were not far behind him.
@EvaUnit_01
January 17, 2024 at 11:45 am
Work in healthcare, not even 3yrs in & i’ve had three different CEOs come & go
@wolf-yw9wk
January 17, 2024 at 11:45 am
they had massive ceo exits just before the pandemic, literally 2 months before in january 2020 they were leaving in droves. they all knew what was coming, they know the next shoe is about to drop. same thing with buffet exiting all of his positions, they are going to let someone else hold the hot potato while they step out and wait it out, they have plenty of money to just sit back.
@VLC8792
January 17, 2024 at 11:45 am
All employees, really. Do you really mean the top levels of management not the person stacking shelves in the supermarket.
@thelammas8283
January 17, 2024 at 11:45 am
I used to be a CEO. Uncertain times? C’mon. These people are tough, that’s why they are there.
@Sid992
January 17, 2024 at 11:45 am
Good!
@johnlonguil4157
January 17, 2024 at 11:45 am
You are paid big bucks to navigate good and bad. Buck up or I’ll take your job!
@desi4lyfe379
January 17, 2024 at 11:45 am
COVID changed everything for our generation.
@glenndearle1703
January 17, 2024 at 11:45 am
i sincerely hope this video wan't made to make people feel sorry for them . . .
@opentoworkin2024
January 17, 2024 at 11:45 am
00:02 Over 1500 CEOs have quit in 2023
01:01 CEOs are quitting due to global uncertainties
02:00 CEOs quitting due to burnout and opportunities
02:58 Replacing CEOs is costly and involves significant expenses.
03:59 CEOs' first 100 days are crucial for success and stability.
04:59 Employee confidence impacts CEO success
05:53 CEOs are facing new challenges in 2023
06:47 CEO turnover is affected by economic conditions
@ANGELCRYPT0
January 17, 2024 at 11:45 am
Stacking Sats and XRP
The rich elites wants to starve the rest of the world
@AaronEbrahim
January 17, 2024 at 11:45 am
Nobody cares. Let's talk about why Rita left Bojangles, or why Fred left the grocery deli after 25 years. Nobody likes CEOs.