Report: Corporate CEO Turnover in April Lowest Since 2004

Authored by Mark Hefflinger on May 15, 2009 - 6:34am.

Chicago - Reinforcing a trend that has taken hold in recent months, just 78 corporate CEOs left their positions in April, the lowest monthly figure since Dec. 2004, according to a new report by outplacement consultancy Challenger, Gray & Christmas.

April departures were down 32% from March, and also fell 30% lower than the previous year.

So far this year, 387 CEO exits have been recorded, nearly 100 fewer than the same period last year.

"The numbers suggest companies are making efforts to maintain some stability at the top of the corporate ladder in this volatile economy," said John Challenger, the CEO of Challenger, Gray & Christmas.

"At the same time, many CEOs are content to stay at their posts, knowing that opportunities might be limited."

In fact, nearly a third of the CEOs leaving their posts in April plan to stay with their companies in some capacity.