TP Chatz: 2 Things I Learned | CEO Turnover

by Sandy Kolling

The two Daves discussed CEO turnover in enterprise communications. I had no idea that CEO turnover was up. Of course, I heard about CEOs leaving, but I hadn’t really noticed an increase. So, yes, the first thing I learned was that turnover at the top is up. That’s kind of comforting in an odd way in that the stress and uneasiness aren’t just at the lower levels.

CEO turnover is huge right now, hitting a record high last year. Just nine months into 2023, and more than 1,400 CEOs had already boxed up their belongings and headed for the door. However, these executive exits can’t be chalked up to retirements alone — though that was a factor. Newly minted CEOs are parting ways with their employers, as well. A Korn Ferry report revealed that around 11% of CEOs step down after a 12-month tenure.

The two Dave’s cited many examples of enterprise comms execs that recently left. In addition to the ones they mentioned, I will add Rory Read left the CEO post at Vonage.

But the other thing I learned really surprised me: that AI might be a factor. AI has been a disruptive force, reshaping valuations and priorities within companies. It has led to layoffs and new investments, creating a volatile environment that many executives may find challenging to navigate. Some CEOs may see AI as an opportunity to start new ventures, while others are wary of the uncertainty it brings to their current roles. I knew AI was going after entry-level positions but hadn’t connected the disruption as a C-level opportunity. 

They also covered many other factors contributing to uncertainty in the economy, and uncertainty has lots of implications on things like exec turnover.

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