Hospital CEO departures are on the rise

Healthcare CEOs are participating in The Great Resignation, leaving their roles every quarter at a rising pace.

In fact, the number of CEOs who left their positions nearly doubled in the first quarter of 2022 compared to the same three-month period in 2021, according to a report from Challenger, Gray & Christmas, an outplacement & career transitioning firm. Twenty-nine hospital CEOs have departed from their roles year-to-date in 2022, compared to 15 over the same time period in 2021.

“A high rate of Americans are quitting their jobs each month, and CEOs are no exception,” Andrew Challenger, senior vice president of Challenger, Gray & Christmas, said in a statement. “Meanwhile, inflation concerns may have some boards looking to new leadership to weather the coming storm.”

The trend is similar among pharmaceutical CEOs––nine have left their positions year-to-date, compared to 3 year-to-date in 2021.

Across all industries, 395 CEOs have left their posts, up 29% from the 307 who changed positions in the first quarter of 2021, the report revealed. When CEOs leave their roles, some are taking other positions or taking on other roles within their organization. Of the 92 CEOs who have retired so far this year across industries, 28 stepped into other high-level roles within the company, such as chair or advisor, while 8 left for new opportunities.