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The Brief
David Joosten CEO Vodafone US
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Amy Bourbeau Chief Impact Officer Seismic
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Dean Forbes CEO Forterro
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BY THE NUMBERS
WEF Global Gender Gap Report 2022
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REAL ESTATE TECHNOLOGY ENERGY SUPPLY CHAIN AND TRANSPORTATION MANUFACTURING INFRASTRUCTURE
71% 76% 80% 79% 81% 84%
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CEO departures hit 20-year high as recession bites
If you thought 2021 was a busy time for CEO departures, brace yourself – 2022 has just got a whole lot busier.
According to a recent report from Challenger, Gray & Christmas, Inc., 668 CEOs left their roles at U.S. companies between January and May 2022, marking the highest total of CEO departures in this time period since 2002, when the firm began tracking this metric. It is also 24% higher than the 539 CEO departures within the same time last year.
“The CEO exodus continues,” declares Andrew Challenger, SVP of Challenger, Gray & Christmas, attributing the shifts to current economic conditions, such as rising inflation and recession concerns, and to people re-evaluating their priorities post-pandemic.
While all industries have been impacted, from tech to aviation to automotive, the struggling retail, restaurant and fashion industries have seen significant CEO turnover of late. Among recent CEO departures are Ben Silberman from Pinterest; Kevin Johnson from Starbucks, Sonia Syngal from Gap (pictured above), and Herbert Diess from Volkswagen. DIGITAL SKILLS GAP Google and AARP team up to help people aged 50+ improve their digital skills to remain employed for longer. Set to pilot across eight US states, and expand nationally thereafter, the program will target 25,000 people, and will focus on women and people of colour.
IBM Hands together for IBM Chief Executive Arvind Krishna who has been voted best male CEO for women in 2022, according to Comparably which measures employee feedback. Arvind is known for leading with empathy and emotional intelligence.
ECONOMIC OUTLOOK The majority of CEOs (60%) believe their geographic region will enter a recession by the end of 2023, a survey from The Conference Board finds. While 15% of CEOs say they believe their region has already entered recession.
FEMALE LEADERSHIP Following the step-down of Sonia Syngal in July as CEO of Gap Inc., there are now just 43 female CEOs on the Fortune 500. Sonia’s departure followed Nancy Green’s just months prior from her role as CEO of Old Navy.
