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U.S. markets recover from steep losses
CHICAGO, Dec. 9 (UPI) -- The number of U.S. chief executive officers who have left their jobs in 2009 is down 17.6 percent from a year ago, private researchers said.
January through November saw 1,122 chief executive officers leave their positions, compared with 1,361 in the first 11 months of 2008, Challenger, Gray & Christmas said Wednesday.
In November, 94 head honchos left their jobs, slightly more than the 89 who departed in October, but less than the 104 drop outs in November 2008.
"We saw a record level of CEO departures in 2008, as companies turned toward executives who could help weather the economic storm. This year, the pace of planned job-cut announcements and CEO turnover have fallen, as organizations achieved some stability," CEO John Challenger said.
Challenger warned a return to economic growth could increase executive turnover, as companies redirect their strategies from holding tight in a recession to charging ahead as a recovery takes hold.
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