The Great Resignation Hits The C-Suite

Burnout, inflation, and fears of recession are some factors reportedly leading to a higher rate of exits at the top level.

- CHERRY AISNE TRINIDAD

The pandemic-induced “Great Resignation,” which was found most common among mid-career workers, according to an analysis published by Harvard Business Review, is increasingly reverberating among C-Suite executives, confirming the phenomenon— also known as the “Great Reshuffle”—has no exception, even as CEO pay surged back from 2020 declines.

New data by global outplacement services firm, Challenger Gray & Christmas, shows that CEO exits in U.S. companies spiked to a record during the first four months of 2022, with a total of 518 departures, an increase of 18% higher compared to the same period in the previous year. It was the highest CEO turnover that the company has recorded for the JanuaryApril period since it began tracking CEO exits two decades ago .