The US Experiences Higher C-suite Turnover Rates in 2022

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Altrata

Mar 30, 2023, 08:00 ET

New Altrata report reveals key trends in turnover for the roles of CEO, CFO, COO, CMO and CHRO.

NEW YORK, March 30, 2023 /PRNewswire-PRWeb/ -- Today, Altrata released a new study: 2023 Spotlight: C-Suite Turnover in the US, which examines changes in C-level appointments and exits over the last five years. The report analyzes the CEOs, CFOs, COOs, CMOs and CHROs of Fortune 1000 companies and provides a unique perspective on the turnover trends of these positions from 2018 to 2022, with a particular focus on last year.

The study found that in 2022, turnover increased among the three most senior C-suite roles – CEOs, CFOs, and COOs. The increased turnover of CEOs and CFOs is likely to have been caused, in part, by a build-up of delayed retirements, with boards persuading these top executives to stay on to guide their businesses through the pandemic and subsequent geopolitical disruption of 2020-21.

2023 Spotlight: C-suite Turnover in the US reveals numerous findings, including:

  • Among the key five C-suite positions, CEOs and CFOs have the lowest levels of turnover
  • COO turnover was the highest at 27.3% followed by CMOs at 19.3% in 2022
  • Female executives have a shorter tenure in all five positions included in the study
  • CEOs and CFOs of health and technology companies are among those with the highest turnover
  • The CEO role saw the most rapid increase in turnover, jumping by three percentage points to 13.2% in 2022.

The report digs deeper into the executives appointed in 2022 and reveals how age and sector affect turnover. The average age at which key C-suite executives are appointed has fallen by nearly four years since 2018.

Download the report to access the complete findings which expand on the drivers of turnover and explore emerging trends.

About Altrata
Altrata is a global leader in people intelligence. It includes more than 100 million profiles on wealthy individuals around the world and more than 12 million profiles on senior decision makers, board members and C-suite leaders. Altrata provides intelligence on the people who are most impactful to their clients' success. Altrata's advanced integration solutions allow deeper insights and access to billions of connections helping clients close more deals, manage risk, and identify key talent quickly. Actionable, accurate, and comprehensive data powered by a global team of more than 400 researchers and data specialists, maintaining millions of profiles, enables clients to effectively engage and make meaningful, lasting connections.

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Media Contact

Amanda Cifone, Altrata, 12122243007, [email protected]

SOURCE Altrata