Record-high rates of CEOs still stepping down

ER Editor: We assume these stepdowns are largely, but not exclusively, a function of Trump’s Executive Order 13818, against corruption globally and crimes against humanity. A reminder that this went into effect in December 2017, and keeps getting renewed every December. It is up for renewal shortly. See also this on EO 13818.

We haven’t paid the $147.00 ourselves to access their report below, nor are we advising readers to do the same. The spirit of the article, we feel, suffices.

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CEOs are stepping down at record-high rates.  According to a report from Challenger, Gray & Christmas, Inc….

“In 2023, 1,914 CEOs left their posts, a 55% increase from the 1,235 CEO changes in 2022. Last year’s total is the highest on record, surpassing the previous record of 1,640 CEO exits in 2019.”

In this report, you’ll find every notable CEO stepping down since 2020. We looked at all Fortune 100 companies plus every other CEO exit at companies with 1,000+ employees.

174 Major CEOs Have Stepped Down Since 2020

Here are a few notable CEOs who stepped down in 2024. The full list can be accessed here.

Since 2020, 46 of the Fortune 100 have had a CEO step down. 

Company	CEO	Date	Story
Boeing	Dave Calhoun	12/31/24	“CEO Dave Calhoun will step down by year-end in a broad management shakeup brought on by the planemaker’s sprawling safety crisis.” (source)
Subway	John Chidsey	12/31/24	“Subway announced Tuesday that its CEO, John Chidsey, will retire at the end of 2024. Executive Carrie Walsh will replace him as interim CEO.” (source)
Intel	Pat Gelsinger	12/2/24	“Gelsinger, who joined Intel in 1979, was “forced out” after the board lost confidence in his plan to revive the struggling chipmaker.” (source)
CVS Health Corp	Karen Lynch	10/18/24	“Longtime CVS Health executive David Joyner has succeeded Karen Lynch as CEO.” (source) Larry Merlo (2/1/21) “CVS Health Corp Chief Executive Officer Larry Merlo will retire after a decade-long tenure at the helm.” (Source)
Nike	John Donahoe	10/13/24	“John Donahoe steps down as Nike CEO. The embattled chief executive will make way for Elliott Hill, a Nike veteran who had retired from the brand in 2020.“ (source)
Starbucks	Michael Conway	9/16/24	“Michael Conway, Starbucks’ North America CEO, is calling it quits after just eight months on the job — and the coffee giant isn’t going to replace him.“ (source)
Chipotle	Brian Niccol	8/31/24	“Chipotle announced that Brian Niccol, Chairman and Chief Executive Officer, has accepted the role as Chairman and Chief Executive Officer of Starbucks and will be leaving the Company effective August 31, 2024. Chipotle’s Board of Directors has appointed Scott Boatwright, Chief Operating Officer, as Interim CEO.” (source)
Nestlé	Mark Schneider	8/31/24	“Nestlé announced that chief executive Mark Schneider was stepping down, and will be succeeded by company veteran Laurent Freixe, following a period of underperformance at the world’s largest food manufacturer.” (source)
Amazon Web Services	Adam Selipsky	6/3/24	“Adam Selipsky, the chief executive of the cloud computing unit, will step down from his role next month. Matt Garman, currently vice president of sales, marketing and global services, will take over as AWS CEO starting June 3.” (source)
Discover Financial	Michael Rhodes	4/1/24	“President and CEO Michael G. Rhodes resigned, effective April 1, 2024, as Rhodes was not expected to have a long-term role at the combined company after its planned merger with Capital One Financial.” (source)
American Tower	Tom Bartlett	2/1/24	“American Tower Corporation has announced that Tom Bartlett will retire from his positions as president, CEO, and director of the board from February 1, 2024.” (source)
Morgan Stanley	James Gorman	1/17/24	“James Gorman, who has held the top spot at Morgan Stanley for the past 13 years, is about to call it quits.” (source)
JetBlue	Robin Hayes	01/08/2024	“JetBlue said Monday that CEO Robin Hayes will step down next month and be replaced by the airline’s president, Joanna Geraghty, who will be the first woman to lead a major U.S. carrier.” (source)
Costco	Craig Jelinek	1/1/24	“Costco shared Thursday that Craig Jelinek will step down as CEO at the end of the year. The board of directors has elected Ron Vachris, president and chief operating officer since February 2022, as president and CEO, effective January 1, 2024.” (source)
Download the full report of 170+ CEO departures.

 

What does it mean if a CEO steps down?

Just so we’re all on the same page, here is how we define a CEO stepping down – the leader of a company gives up his or her position for any number of reasons like retirement, resignation, contract ending, switching to a new role, etc.

Source

Featured image source: https://fabrikbrands.com/branding-matters/branding/famous-brand-and-corporate-logo-design/

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Published to The Liberty Beacon from EuropeReloaded.com

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