Oops, there goes another one ...
Chief executive officers just don't seem to have staying power anymore.
A report out today from outplacement firm Challenger, Gray & Christmas documents 728 CEO switchovers this year - a number 6.9 percent higher than the figure released this time last year.
Now, turnover isn't synonymous with firing. Challenger's figures show only 13 CEOs officially getting the boot this year. But the slew of CEO resignations include quite a few spurred by pressure from boards and shareholders.
Challenger concludes, in a news release about the report, that the record turnover is "a testament to the increased power boards and shareholders have in determining the direction and leadership of the organizations."
The turnover - six departures each business day through June - also is a reverberation of the corporate scandals, like Enron, of the early 2000s, the report concludes.
Challenger is predicting as many as 1,500 CEO departures by Dec. 31, surpassing last year's record (an all-time high) of 1,322 departures.
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