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Global CEO Turnover Index

Explore data from the world’s leading stock indices on how many listed company CEOs are leaving their posts each quarter.
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Russell Reynolds CEO Turnover -bar

Heading

CEO turnover by index
CEO turnover by industry
ALL
2023
2022
2021
2020
2019
2018
SHOW/ HIDE DATA TABLES
ASX 200
CAC 40
DAX
EuroNext 100
FTSE 100
FTSE 250
HSI
Nikkei 225
NSE Nifty 50
S&P 500
STI
Grand Total
*
2023
Q1
10
(67%)
0
(0%)
0
(-100%)
0
(-100%)
4
(-20%)
4
(-56%)
2
(100%)
1
(-)
13
(-24%)
0
(0%)
1
(-)
34
(-23%)
ASX 200
CAC 40
DAX
EuroNext 100
FTSE 100
FTSE 250
HSI
Nikkei 225
NSE Nifty 50
S&P 500
STI
Grand Total
*
2022
Q4
6
(-45%)
0
(0%)
3
(-25%)
5
(-)
5
(150%)
9
(80%)
1
(-50%)
0
(0%)
17
(31%)
0
(0%)
0
(-100%)
44
16%)
Q3
11
(175%)
0
(-100%)
4
(300%)
0
(-100%)
2
(-33%)
5
(-29%)
2
(-86%)
0
(-100%)
13
(-7%)
0
(-100%)
1
(-80%)
38
(-31%)
Q2
4
(-33%)
2
(-)
1
(0%)
4
(300%)
3
(0%)
7
(75%)
14
(180%)
1
(0%)
14
(-18%)
0
(-100%)
5
(67%)
51
(21%)
Q1
6
(20%)
0
(-100%)
1
(-)
1
(0%)
3
(50%)
4
(-33%)
5
(-)
1
(-)
17
(55%)
1
(0%)
3
(200%)
42
(56%)
ASX 200
CAC 40
DAX
EuroNext 100
FTSE 100
FTSE 250
HSI
Nikkei 225
NSE Nifty 50
S&P 500
STI
Grand Total
*
2021
Q4
5
(150%)
0
(-100%)
0
(0%)
1
(-80%)
2
(100%)
6
(500%)
0
(-100%)
0
(0%)
11
(83%)
1
(-)
1
(-67%)
27
(59%)
Q3
2
(-78%)
3
(200%)
0
(-100%)
5
(400%)
1
(-75%)
1
(-)
2
(-89%)
0
(-100%)
6
(-45%)
0
(-100%)
3
(-)
17
(-66%)
Q2
9
(13%)
1
(-80%)
4
(100%)
1
(-88%)
4
(300%)
0
(-100%)
18
(350%)
2
(100%)
11
(-31%)
1
(0%)
0
(0%)
50
(28%)
Q1
8
(100%)
5
(400%)
2
(100%)
8
(100%)
1
(-80%)
3
(-25%)
4
(-)
1
(0%)
16
(60%)
1
(-)
0
(-100%)
39
(39%)
ASX 200
CAC 40
DAX
EuroNext 100
FTSE 100
FTSE 250
HSI
Nikkei 225
NSE Nifty 50
S&P 500
STI
Grand Total
*
2020
Q4
4
(0%)
1
(-)
1
(-)
4
(-)
5
(0%)
4
(-33%)
0
(0%)
0
(-)
10
(43%)
0
(0%)
2
(-50%)
28
8%)
Q3
4
(300%)
0
(-100%)
0
(-100%)
0
(-100%)
5
(400%)
6
(0%)
0
(-100%)
0
(-100%)
7
(-56%)
0
(-100%)
4
(33%)
26
(-43%)
Q2
1
(-86%)
1
(0%)
1
(0%)
6
(200%)
1
(-86%)
6
(50%)
10
(150%)
2
(-50%)
16
(-16%)
1
(-)
3
(50%)
46
(-6%)
Q1
7
(75%)
1
(0%)
1
(-50%)
2
(-50%)
7
(250%)
4
(-43%)
4
(-)
4
(-)
19
(12%)
0
(0%)
2
(100%)
49
(36%)
ASX 200
CAC 40
DAX
EuroNext 100
FTSE 100
FTSE 250
HSI
Nikkei 225
NSE Nifty 50
S&P 500
STI
Grand Total
*
2019
Q4
4
(0%)
1
(0%)
2
(100%)
4
(0%)
2
(-33%)
7
(250%)
0
(-100%)
0
(-100%)
17
(42%)
0
(0%)
1
(-50%)
36
(33%)
Q3
4
(33%)
1
(-50%)
1
(-50%)
4
(-20%)
3
(50%)
2
(-78%)
1
(-94%)
1
(-)
12
(-8%)
0
(0%)
2
(0%)
27
(-47%)
Q2
3
(-70%)
2
(100%)
2
(-)
5
(67%)
2
(100%)
9
(50%)
18
(800%)
0
(0%)
13
(0%)
0
(-100%)
2
(100%)
51
(42%)
Q1
10
(150%)
1
(0%)
0
(-100%)
3
(50%)
1
(-75%)
6
(200%)
2
(-)
0
(-100%)
13
(-7%)
1
(-)
1
(-)
36
38%)
ASX 200
CAC 40
DAX
EuroNext 100
FTSE 100
FTSE 250
HSI
Nikkei 225
NSE Nifty 50
S&P 500
STI
Grand Total
*
2018
Q4
4
(-43%)
1
(-)
1
(-)
2
(100%)
4
(100%)
2
(-71%)
0
(-100%)
2
(100%)
14
(8%)
0
(0%)
0
(-100%)
26
(-24%)
Q3
7
(17%)
0
(-100%)
1
(-100%)
1
(-50%)
2
(0%)
7
(-42%)
1
(-95%)
1
(0%)
13
(-13%)
0
(0%)
2
(0%)
34
(-43%)
Q2
6
(20%)
1
(0%)
2
(-)
2
(-33%)
2
(-33%)
12
(200%)
19
(171%)
1
(-50%)
15
(50%)
0
(0%)
2
(-33%)
60
(88%)
Q1
5
(-)
1
(-)
0
(-)
3
(-)
3
(-)
4
(-)
7
(-)
2
(-)
10
(-)
0
(-)
3
(-)
32
(-96%)
ALL
2023
2022
2021
2020
2019
2018
SHOW/ HIDE DATA TABLES
Banks & Insurance
Business & Process Services
Communications
Consumer
Energy & Utilities
Healthcare
Investment & Finance
2023
Q1
2
(-60%)
4
(-50%)
4
(33%)
3
(-25%)
2
(-60%)
2
(0%)
2
(-50%)
Manufacturing
Other Industrials
Real Estate & Construction
Resources & Energy
Retail & Wholesale
Technology
Grand total
*
2023
Q1
3
(50%)
4
(300%)
3
(-50%)
1
(-75%)
1
(0%)
4
(300%)
34
(-23%)
Banks & Insurance
Business & Process Services
Communications
Consumer
Energy & Utilities
Healthcare
Investment & Finance
2022
Q4
5
(150%)
8
(300%)
3
(50%)
4
(0%)
5
(25%)
2
(67%)
4
(100%)
Q3
2
(-33%)
2
(-60%)
2
(-50%)
4
(0%)
4
(33%)
6
(50%)
2
(-)
Q2
3
(-40%)
4
(150%)
4
(300%)
4
(-33%)
3
(-25%)
4
(100%)
0
(-100%)
Q1
5
(25%)
2
(-50%)
1
(-)
6
(100%)
4
(300%)
2
(-)
1
(-67%)
Manufacturing
Other Industrials
Real Estate & Construction
Resources & Energy
Retail & Wholesale
Technology
Grand total
*
2022
Q4
2
(-60%)
1
(0%)
6
(200%)
4
(-43%)
1
(0%)
1
(-)
44
(16)
Q3
5
(25%)
1
(-89%)
2
(-50%)
7
(75%)
1
(-83%)
0
(-100%)
38
(-25%)
Q2
4
(100%)
9
(80%)
4
(-20%)
4
(-33%)
6
(200%)
5
(400%)
51
(21%)
Q1
2
(0%)
5
(25%)
5
(-)
6
(100%)
2
(0%)
1
(0%)
42
(56%)
Banks & Insurance
Business & Process Services
Communications
Consumer
Energy & Utilities
Healthcare
Investment & Finance
2021
Q4
4
(300%)
4
-33%)
0
(-100%)
3
(0%)
1
(-50%)
1
(-100%)
3
(-)
Q3
1
(-67%)
6
(0%)
2
(100%)
3
(-25%)
2
(-60%)
1
(-50%)
0
(-100%)
Q2
3
(-25%)
6
(20%)
1
(-67%)
4
(-33%)
5
(-67%)
2
(0%)
3
(200%)
Q1
4
(0%)
5
(150%)
3
(200%)
6
(-)
3
(-25%)
2
(-)
1
(-67%)
Manufacturing
Other Industrials
Real Estate & Construction
Resources & Energy
Retail & Wholesale
Technology
Grand total
*
2021
Q4
2
(100%)
4
(400%)
0
(-100%)
3
(200%)
2
(0%)
1
(-)
27
(59%)
Q3
1
(-89%)
2
(-60%)
2
(0%)
1
(-75%)
2
(-33%)
0
(-100%)
17
(-66%)
Q2
9
(200%)
5
(-17%)
2
(-60%)
4
(-43%)
3
(50%)
4
(100%)
50
(28%)
Q1
3
(-25%)
6
(500%)
5
(25%)
7
(17%)
2
(100%)
2
(0%)
39
(39%)
Banks & Insurance
Business & Process Services
Communications
Consumer
Energy & Utilities
Healthcare
Investment & Finance
2020
Q4
4
(33%)
2
(-)
1
(-50%)
0
(-100%)
4
(33%)
0
(-100%)
3
(50%)
Q3
3
(-67%)
0
(-100%)
2
(100%)
5
(-25%)
3
(-50%)
1
(-50%)
2
(-33%)
Q2
9
(800%)
1
(-67%)
1
(-50%)
4
(-50%)
6
(50%)
2
(0%)
3
(-25%)
Q1
1
(-67%)
3
(50%)
2
(0%)
8
(33%)
4
(100%)
2
(-60%)
4
(100%)
Manufacturing
Other Industrials
Real Estate & Construction
Resources & Energy
Retail & Wholesale
Technology
Grand total
*
2020
Q4
4
(100%)
1
(-50%)
4
(300%)
6
(200%)
1
(-50%)
2
(100%)
28
(8%)
Q3
2
(-67%)
2
(-33%)
1
(-67%)
2
(100%)
2
(0%)
1
(-86%)
26
(-43%)
Q2
6
(500%)
3
(-50%)
3
(-40%)
1
(-90%)
2
(-33%)
7
(250%)
46
(-6%)
Q1
1
(-75%)
6
(500%)
5
(-)
10
(67%)
3
(200%)
2
(-50%)
49
(36%)
Banks & Insurance
Business & Process Services
Communications
Consumer
Energy & Utilities
Healthcare
Investment & Finance
2019
Q4
3
(-40%)
2
(-)
2
(100%)
6
(100%)
2
(-60%)
5
(0%)
2
(-)
Q3
5
(-38%)
0
(-100%)
1
(-)
3
(-25%)
5
(0%)
5
(67%)
0
(-100%)
Q2
8
(100%)
4
(0%)
0
(-100)
4
(0%)
5
(150%)
3
(0%)
3
(0%)
Q1
4
(-33%)
4
(-33%)
2
(-)
4
(33%)
2
(-)
3
(-40%)
3
(-25%)
Manufacturing
Other Industrials
Real Estate & Construction
Resources & Energy
Retail & Wholesale
Technology
Grand total
*
2019
Q4
4
(100%)
1
(0%)
0
(100%)
6
(50%)
1
(-50%)
4
(300%)
36
(33%)
Q3
2
(-80%)
1
(-67%)
2
(-60%)
4
(-20%)
2
(0%)
1
(-75%)
27
(-47%)
Q2
10
(-150%)
3
(200%)
5
(-17%)
5
(25%)
2
(100%)
4
(-)
51
(42%)
Q1
4
(300%)
1
(-)
6
(20%)
4
(-)
1
(-)
0
(-100%)
36
(38%)
Banks & Insurance
Business & Process Services
Communications
Consumer
Energy & Utilities
Healthcare
Investment & Finance
2018
Q4
6
(100%)
3
(-57%)
0
(-100)
3
(0%)
0
(-100%)
5
(-)
4
(33%)
Q3
3
(-25%)
7
(0%)
3
(-25%)
3
(0%)
3
(-50%)
0
(-100%)
3
(50%)
Q2
4
(-33%)
7
(600%)
4
(300%)
3
(-57%)
6
(200%)
6
(50%)
2
(100%)
Q1
6
(-)
1
(-)
1
(-)
7
(-)
2
(-)
4
(-)
1
(-)
Manufacturing
Other Industrials
Real Estate & Construction
Resources & Energy
Retail & Wholesale
Technology
Grand total
*
2018
Q4
1
(-)
0
(-100%)
5
(25%)
0
(-100%)
0
(-100%)
3
(200%)
26
(-24%)
Q3
0
(-100%)
3
(0%)
4
(0%)
2
(-60%)
2
(-33%)
1
(-89%)
34
(-43%)
Q2
6
(500%)
3
(-25%)
4
(33%)
5
(25%)
3
(200%)
9
(200%)
60
(88%)
Q1
1
(-)
4
(-)
3
(-)
4
(-)
1
(-)
3
(-)
32
(-)
Figures show the number of CEOs who left their role in the specified industry or index in the given time frame.
Percentages show the change in CEO turnover since the previous period.
* Grand totals exclude dual-listed companies

Heading 2 test

Heading

 

CEO Turnover Hits 5-Year High: What Does This Mean for Companies?

Find out more

 

 

CEO Turnover Trends      Methodology      CEO Succession Planning      Meet our experts      Get notifications

 

Long-term trends in global CEO turnover

 

The COVID-19 pandemic transformed trends in CEO turnover. As it brought new risks to organizations throughout 2020, the number of CEO departures fell each quarter. And the trend continued alongside the pandemic in 2021, with the global annual turnover rate falling from 9.6% in 2020 to 8.5% in 2021.

 

In 2022, as countries moved past the pandemic, organizations seemed to regain their risk appetite, and global CEO turnover reached a five-year high of 11.2%.

 

In the first quarter of 2023, we’re seeing early signs that the pandemic-induced turmoil has settled. Just 34 CEOs left their posts in Q1, a low we haven't seen since Q1 of 2018 (32 departures).

 

 

Methodology

 

We collected the quantitative data from eleven different global market indices from various publicly available sources. We update the data quarterly, based on the most recent index compositions. We’ve based our industry classifications on those provided by S&P CapitalIQ, BoardEx, and our own classifications.

 

We used the date of a CEO’s departure from their role as a measurement of CEO turnover and analysed the data on the assumption that the departure of an incumbent CEO would result in the appointment of a new CEO. We did not consider Interim, Acting or Designate CEO roles. We used the role departure date to determine the year and quarter in which the transition happened.

 

Our analysis included the companies within each index as of March 2023. This means some of the figures for 2018-2022 might not be accurate as the constituents of an index might have changed.

the-challenge-you-face-and-the-case-for-ceo-succession-planning.jpg

How we support boards through CEO turnover

Changing CEOs is a high-risk task. But done right, it becomes a powerful catalyst for business transformation and growth. We help boards mitigate the risks and maximize the opportunities.

Discover more about our approach to CEO succession.

Global board & CEO advisory leaders

 

With more than 120 years of combined experience in executive search, our board and CEO advisory leaders ensure we bring the full power of our one-firm approach to your greatest leadership challenges. That means we bring together the right team to meet your organization’s needs.

 

 

 

 

 

 

 

 

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Would you like to learn more about CEO succession best practices?

Speak with our experts

 

 

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