CEO departures on pace to eclipse 2009’s record low

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The times are a-changing and so are many businesses’ CEOs.

In April, 101 American CEOs announced their departures, which was 29.5 percent higher than the 78 CEOs that left their posts in April 2009, according to a Challenger, Gray & Christmas Inc. report. For the year, 441 CEOs have departed, marking a 14 percent increase compared with the same period one-year-ago.

The total number of CEO departures in 2009 was 1,227, the lowest number in five years. The rate of CEO departures appears to be returning to pre-2009 levels.

“We have entered what is expected to be a volatile period for CEO turnover,” said John Challenger, CEO of Challenger, Gray & Christmas in a press release. “Companies are making the transition from recession to recovery, and with that usually comes a transition in leadership.”

Retirements and resignations are the leading reasons for the departures; 125 CEOs have cited those as reasons for leaving in 2010. In April, 30 CEOs cited retirement as their reason for leaving, and 23 resigned.

“Not every CEO will leave under pressure from their boards or shareholders,” Challenger said. “Many simply recognize that they have taken their organization as far as they can or want to and willingly relinquish their leadership role. We just happen to be at a natural crossroads for these types of changes to occur with more frequency.”