CEO Turnover Teachings
The CEO Magazine - ANZ|August 2020
With no financial crisis or global pandemic prompting the great ceo exodus of 2019, what lessons can be gained for today’s ceos looking ahead to an uncertain future?
Lisa Smyth
CEO Turnover Teachings

With a stable global economy buoying bottom lines of 2019, a total of 1,640 CEOs departed US businesses. This was the highest turnover ever recorded by global outplacement and executive coaching firm Challenger, Gray & Christmas since it started tracking CEO turnover in 2002.

The lingering impact of the #MeToo movement meant CEOs were increasingly held to a higher ethical standard last year. In November, McDonald’s CEO Steve Easterbrook was forced to step down after admitting to a consensual relationship with an employee, but most departures weren’t so dramatic.

“Many CEOs (395) retired from their positions after a long tenure, leaving the company in relatively good shape,” says Andrew Challenger, SVP of Challenger, Gray & Christmas. “Others left because their skills were in demand and they were offered new opportunities (154). And more found that advances in technology and shifts in consumer behaviour called for new leadership.”

The trend of high CEO turnover is not limited to the US. “Before COVID-19, CEO tenure in the top 50 ASX-listed companies had continued on a downward trend since 2003,” says veteran PR advisor John Connolly who has counselled companies in the US, Canada, UK and Australia. “In 2003, it was 8.5 years, and today it is only 3.7 years. The pressure on a CEO has definitely become more intense in recent years. I think there’s now a climate of outrage, and that outrage needs an answer. The answer has been, in a lot of cases, to fire the CEO.”

Bu hikaye The CEO Magazine - ANZ dergisinin August 2020 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye The CEO Magazine - ANZ dergisinin August 2020 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

THE CEO MAGAZINE - ANZ DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
There Were No Unknowns For Us
The CEO Magazine - ANZ

There Were No Unknowns For Us

Putting discipline at the core of figurehead construction helped it survive both the global financial crisis and the covid-19 pandemic, says managing director Joe Grasso.

time-read
5 dak  |
September 2021
The Future Is Digital
The CEO Magazine - ANZ

The Future Is Digital

We are watching a lot more television as a result of the pandemic, but as the senior vice president, head of streaming for 10 viacomcbs Liz Baldwin explains, the way we view it has totally changed.

time-read
10 dak  |
September 2021
The Ultimate Investments
The CEO Magazine - ANZ

The Ultimate Investments

With the global economic recovery from the pandemic underway, many analysts are suggesting now is the time to invest – but will whisky, soybeans or bitcoin find a way into your portfolio?

time-read
5 dak  |
September 2021
Once in a LIFETIME
The CEO Magazine - ANZ

Once in a LIFETIME

CO-FOUNDER AND MANAGING DIRECTOR OF INTEGRITI PROJECTS ANDREW STENOS IS BUILDING MORE THAN BESPOKE HOMES. HE’S ALSO BUILDING DREAMS FOR CLIENTS WHO KNOW EXACTLY WHAT THEY WANT.

time-read
4 dak  |
September 2021
PUTTING FAMILY FIRST
The CEO Magazine - ANZ

PUTTING FAMILY FIRST

COUNTRY LIVING HOMES MANAGING DIRECTOR MARK RAVENSCROFT HAS OVERSEEN IMPRESSIVE GROWTH, BUT NEVER LOST SIGHT OF WHAT MAKES THE SOUTH AUSTRALIAN CONSTRUCTION BUSINESS SUCH A SUCCESS.

time-read
4 dak  |
September 2021
“A SAFER COMMUNITY IS MY MAIN PRIORITY”
The CEO Magazine - ANZ

“A SAFER COMMUNITY IS MY MAIN PRIORITY”

ULTIMATE SECURITY CEO NASSIM SAID HAS BUILT A HIGH-TECH SECURITY ORGANISATION FROM THE GROUND UP, ALWAYS WITH COMMUNITY SAFETY IN MIND AND AN INSISTENCE ON FAMILY VALUES.

time-read
5 dak  |
September 2021
We Did It Our Way.
The CEO Magazine - ANZ

We Did It Our Way.

WHEN STEVEN SIMEONI FOUNDED TAS CITY BUILDING, HE KNEW HE WANTED TO DO THINGS DIFFERENTLY.

time-read
3 dak  |
September 2021
FROM PRECISION TO PREZZEE
The CEO Magazine - ANZ

FROM PRECISION TO PREZZEE

A COMMERCIAL PROPERTY BARON AT 24, PRECISION GROUP BILLIONAIRE SHAUN BONÉTT HAS BUILT HIS CAREER ON UNDERSTANDING THE RETAIL MARKET. NOW HE’S INTRODUCING PREZZEE, THE DIGITAL GIFT CARD PLATFORM THAT’S CHANGING THE WAY WE GIVE.

time-read
10+ dak  |
September 2021
HIGHWAY STAR
The CEO Magazine - ANZ

HIGHWAY STAR

IN REGIONAL AUSTRALIA, WHERE TRUCKS ROUTINELY NAVIGATE VAST STRETCHES OF HIGHWAY, THE ROAD BETWEEN AGRIBUSINESS AND COMMUNITY IS SHORT. DENILIQUIN FREIGHTERS IS AN OLD HAND AT THAT ROUTE, WHICH CEO VICKI MEYER SAYS IS ITS MOST IMPORTANT ONE.

time-read
4 dak  |
September 2021
BENEATH THE SHEETS
The CEO Magazine - ANZ

BENEATH THE SHEETS

A GOOD NIGHT’S SLEEP GOES A LONG WAY TOWARDS MENTAL WELLNESS, AND AH BEARD CEO TONY PEARSON BELIEVES THE OFT OVERLOOKED MATTRESS IS THE ESSENTIAL INGREDIENT.

time-read
4 dak  |
September 2021