The Transformation of the CEO: Global CEO Turnover Index Annual Report
Chapter One: A record year for elections and CEO turnover With almost half the world’s population involved in national elections, 2024 was a year characterized by change, so it is perhaps no surprise to see the recent trend of high CEO turnover reach a new peak with record departures reported. The latest figure of 202 […]
Rusty O’Kelley is a Managing Director and Laura Sanderson Co-leads the Board and CEO Advisory Partners in Europe at Russell Reynolds Associates. This post is based on a Russell Reynolds memorandum by Mr. O’Kelley, Ms. Sanderson, Stephen Langton, and Sean Roberts.
Chapter One: A record year for elections and CEO turnover
With almost half the world’s population involved in national elections, 2024 was a year characterized by change, so it is perhaps no surprise to see the recent trend of high CEO turnover reach a new peak with record departures reported.
The latest figure of 202 departures significantly surpasses the six-year average of 186 and represents a 9% increase from the 2023 number. The S&P 500 is a powerful indicator of the trend, with 58 CEOs departing in 2024, a 21% increase compared to 2023—this marks the second-highest number on record and exceeds the six-year average of 52. The ASX 200 and SMI 20 also experienced record-breaking turnover, with 70% of all global indices tracked showing higher than average turnover.
However, a number of key markets are bucking this trend. For example, the FTSE 100 saw just 12 CEOs depart in 2024, a decrease of 14% compared to 2023. Similarly, the DAX 40 turnover was also low with just five CEOs departing in the last two calendar years, while the NIFTY 50 in India saw just three departures in 2024 (compared to seven in 2023).
