The flood of CEO departures that occurred during and immediately after the financial collapse appears to have abated.Last year, only 42 CEOs were forced out, according to data provided to Business Insider by Chicago-based consultancy Challenger, grey and Christmas.
It was the fewest in at least five years. By comparison, in 2008, 69 CEOs were asked to leave their jobs.
James Pedderson, a spokesman for Challenger grey, says the lull in bad economic news has kept departures down: “Right now, the economy is at a tipping point where we could see significant improvement in the coming year or a dip backward. Companies did a lot more house cleaning as the economy was sinking and in the early part of the recovery, but last year they appear to have taken a wait-and-see approach when it comes to leadership.”
Here’s the breakdown for 2011:
- Removed: 15
- Ousted: 9
- Scandal: 9
- Pressure From Board: 4
- Economic Conditions: 3
- Position Eliminated: 1
- Seized By FDIC: 1
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