CEO turnover across industries fell 27 percent from February to March, reaching its lowest level in 20 months, according to a report released April 8 by global outplacement and business and executive coaching firm Challenger, Gray & Christmas.
Turnover dipped from 128 CEOs who left their posts in February to 94 CEO exits in March. That compares to 135 CEO exits recorded in March 2019.
Challenger said hospitals played a role in March's total, with 13 CEO exits last month and 43 total this year. Hospitals saw 21 CEO exits during the first three months of 2019.
"CEOs of hospitals and hospital systems are truly being tested right now [during the COVID-19 pandemic]. Many are losing money due to the need to cancel elective procedures that typically propel these entities into the black at a time when cost-cutting would only hurt communities, patients and health professionals," the firm said.