A new report reveals that CEO departures through the first two months nearly kept pace with last year's start.
Market volatility and the financial climate may be impacting leadership changes across industries, but hospitals have yet to see significant CEO movement to start the year.
The first two months of 2025 featured 25 hospital CEO exits, just shy of the 26 over the same period in 2024, according to a report by executive coaching firm Challenger, Gray & Christmas.
Hospitals reported 15 departures in February, which matched February 2024's mark. January had 10 exits, up from the three reported in December and a tick below the 11 from January 2024.
The healthcare/products industry experienced 26 CEO changes in February, up 44.4% from both January and February 2024's figure of 18.
Across all sectors, February's 247 CEO exits represented the second-highest total for any month since the firm began tracking the trend in 2002. The current monthly record is the 248 departures that occurred in February 2024.
"Companies appear to be reacting to the barrage of indicators suggesting the potential for difficult times ahead, including falling consumer confidence, the impact of tariffs and rising prices," Andrew Challenger, senior vice president and labor expert for Challenger, Gray & Christmas, said in a statement.
Notable recent CEO changes
Two noteworthy provider organizations to make CEO moves in recent weeks are AdventHealth and Cano Health.
At AdventHealth, the board of directors appointed David Banks as the new president and CEO, effective April 3. He replaces Terry Shaw, who announced his retirement in December to end a 40-year tenure with the health system.
Banks most recently served as group CEO for the Primary Health Division and the Multi-State Division of AdventHealth, while also serving as the as its chief strategy officer for the past eight years.
Meanwhile, value-based primary care provider Cano Health announced the appointment of Eric Jenkins as CEO, effective April 2.
Jenkins follows Mark Kent, who guided Cano through Chapter 11 bankruptcy and led the reorganization as a private company after being appointed CEO in August 2023. Kent stepped down from the position in March to focus on his next business venture.
Before joining Cano, Jenkins held roles with Aetna, Humana, ArchWell Health, and CenterWell Senior Primary Care.
Jay Asser is the CEO editor for HealthLeaders.
KEY TAKEAWAYS
January and February combined for 25 hospital CEO changes, compared to 26 over the two months last year, analysis by Challenger, Gray & Christmas found.
Tariffs and increased costs could be impacting turnover at the top of C-suite across all sectors.
Recent CEO moves by provider organizations include AdventHealth's appointment of David Banks and Cano Health's hiring of Eric Jenkins.