It has been a record year for CEO exits in 2024, according to Challenger, Gray & Christmas.
As of October, more than 1,800 CEOs across industries resigned or retired in 2024, up 19% from 2023, the firm reported Nov. 26. This is the highest year-to-date total the firm has seen since it began tracking CEO changes in 2002.
Hospitals saw 90 CEO exits as of October, compared to 126 in 2023, according to the report.
One reason for the turnover is the lingering effects of the COVID-19 pandemic, Andy Challenger, senior vice president of the firm, recently told CBS News. Organizations may have been hesitant to make leadership changes during the pandemic, which "created some pent up demand for change," as the country enters a period of greater certainty, he said.
Becker's has reported on more than 150 CEO resignations, retirements and other hospital and health system departures since Jan. 1.
Among the notable exits is Mark Wallace, who retired from Houston-based Texas Children's on Oct. 4 after 35 years in the role. Debra Sukin, PhD, stepped in Oct. 5.
Another significant transition is the retirement of Rod Hochman, MD, president and CEO of Renton, Wash.-based Providence. Dr. Hochman will retire at the end of 2024 after nearly two decades with the organization and will be succeeded by COO Erik Wexler.
Airica Steed, EdD, RN, was dismissed from her role as president and CEO of Cleveland-based MetroHealth System after an Aug. 9 board vote. This was less than three weeks after Dr. Steed took a temporary medical leave of absence July 23. Christine Alexander-Rager, MD, was named acting president and CEO on July 26 and will now serve in the role through 2025.
Some CEOs left their roles for new opportunities, such as Terry Forde, president and CEO of Gaithersburg, Md.-based Adventist HealthCare. Mr. Forde exited the role Aug. 2 to become president and CEO of Brevard County, Fla.-based Health First.