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62 Hospital CEOs Made Departures Through the First Half of 2022

Analysis  |  By Melanie Blackman  
   July 21, 2022

This is a 48% increase in departures year over year compared to CEO exits made through June 2021.

According to a recent CEO Turnover report from Challenger, Gray & Christmas, Inc., 15 hospital CEOs made departures during the month of June. These departures include those who have retired, quit, or left their role for a new CEO position elsewhere.

From the beginning of the year through the month of June, 62 hospital CEOs departed from their positions. This is a 48% increase from 2021, where 42 CEOs made exits through the end of June.

"The labor market is still tight at the moment, despite increasing layoffs and likely recession on the horizon," Andrew Challenger, senior vice president of Challenger, Gray & Christmas, Inc., said in a statement."

"The skills CEOs implemented, as well as acquired, during the pandemic are extremely valuable and many of them are finding new opportunities both within the organization and at new companies. Meanwhile, a large swath of CEOs are choosing this challenging economic time to retire after serving the last few years during the pandemic," he added.

There were 774 CEO changes across all industries through the end of June, which is the highest total for the first half of the year since the firm began tracking monthly CEO changes in 2002. This is up 20% from 591 exits made through the end of June 2021, and up 6% from the previous high of 728 tracked exits during the first half of 2006.

Government and nonprofit entities continue to lead in CEO turnover, with 174 CEOs making exits so far this year. Technology companies continue to fall second in turnover, which saw 80 CEOs exit through the end of June.

"The ready capital that was available to Tech companies the last few years is starting to slow, and job cuts are following. Generally, new leaders are brought in during a period of uncertainty. Former leaders often remain with the company for a period of time, either as a consultant or continue as a Board Member or Chair to maintain institutional knowledge and have the appearance of a seamless transition," Challenger stated in a report released last month.

Melanie Blackman is a contributing editor for strategy, marketing, and human resources at HealthLeaders, an HCPro brand.

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