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CEO departures may reflect pace of recovery, says CEO John Challenger
CHICAGO, Jan. 10 () -- More than 100 U.S. companies experienced changes at the top in December,[url=http://www.jdebug.net]Jimmy Choo UK[/url], pushing the final three-month total of CEO changes for 2012 to 323, a firm said.Outplacement firm Challenger, Gray & Christmas said 103 chief executive officers were replaced in December, 8 percent fewer than the 112 who left in November and 4.6 percent fewer than the 108 departures in October.The three-month total, however, was 26 percent higher than the final three months of 2011, when 256 CEOs were replaced.In 2012, there were 1,213 CEO departures, a 3 percent increase over the 1,178 top management departures in 2011."The increased pace of CEO turnover in the final months of 2012 could be indicative of a turning point in the recovery. We may see heavy turnover continue into 2013 as the economy continues to improve and companies shake up management to reflect a change in strategy from one centered around maintaining stability to one focused on growth and expansion," said John Challenger, CEO of Challenger, Gray & Christmas, a Chicago outplacement consultancy.For the year, healthcare CEOs had the highest number of departures with 230. Second most CEO exits were in government and non-profit companies, which saw 179 departures. Third on the list was computer firms with 127 departures.The most common reason given for a CEO departure was resignation, which accounted for 360 departures. Retirement claimed 267 others,[url=http://www.sorkan.com/]christian louboutin soldes[/url], while 200 stepped into a new position, most often as a board member or chairman of the board. Another 138 CEOs found work in other companies, Challenger, Gray & Christmas said.