Retail Industry’s CEO Turnover Rate Has Hit A Record High
As retailers scramble to respond to the new demands of fickle consumers and to disruptors like Amazon, the industry is taking a page from those shoppers who show little loyalty and changing CEOs at a faster pace than ever. The retail industry saw its rate of announced CEO changes among S&P 500 companies rise to nearly 23% last year, from 16%, according to the Conference Board’s annual study CEO Succession Practices, developed in partnership with the executive search firm Heidrick & Struggles. That was the highest rate the sector has seen since the Conference Board began the study in 2001 and more than double the industry’s historical average rate of 10.5%. The retail CEO turnover rate last year also topped that of other industries from finance to transportation and doubled the S&P 500 index average of 10.8%, according to the 116-page report. Read more at Forbes.
