SA CEO exodus: What’s behind their sudden departures?
“Companies are revving up for economic changes in the coming months. With the rise of labour costs and interest rates, companies are looking for new leaders, according to the Challenger CEO Turnover Report. According to this US study, 1 425 CEOs quit their jobs in the 9 months to Sept. That’s up 47% from the same period last year and the highest on record over that period since the firm began tracking in 2002. Although there’s no comparable study in SA, the trend appears to chime with what is happening in the US – counting 8+ departures this year alone.