Why CEOs Are Quitting In Record Numbers In 2023

American CEOs are leaving their posts in record numbers in 2023. While the "Great Resignation" may be over, it's just beginning for CEOs, according to research by Challenger, Gray and Christmas. The firm found that more than 1,500 CEOs have left their posts so far in 2023, marking the highest number of departures since Challenger began tracking the data in 2002. "There are at least four reasons why we've seen an uptick in CEO turnover over the past few months," said Alexander Kirss, senior principal of research at Gartner. "Those would be delayed CEO retirement, CEO burnout, concerns about CEO underperformance. And then finally, high-performing CEOs who are taking this opportunity to level up to a more attractive opportunity." During times of unforeseen volatility such as the Covid-19 pandemic, companies typically keep their CEOs to help navigate through those times. However, when the economic environment normalizes, the board of directors' appetite for risks returns. The search for new leadership begins from there. For CEOs, the stress from heading a company during the pandemic is now exacerbated by headwinds from rising geopolitical tensions, lingering inflation and the possibility of a recession. These trends not only affect CEOs, but they can also lead to cost cutting, hiring freezes and layoffs — all of which affect employees at every level. Watch the video above to find out more about why American CEOs are leaving their posts and what these changes could mean for employees at every level. Chapters: 0:00 Introduction 1:34 Ch 1. The great CEO resignation 4:04 Ch. 2. Employee impact 6:44 Ch. 3. What’s next? Produced and Edited by: DeLon Thornton Graphics by: Mallory Brangan Supervising Producer: Jeff Morganteen Additional Footage: Getty Images » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC Why CEOs Are Quitting In Record Numbers In 2023