Twenty-nine hospital CEOs exited their roles in the first three months of this year, nearly double the 15 chiefs who stepped down from their positions in the same period of 2021, according to a report from Challenger, Gray & Christmas, an executive outplacement and coaching firm.
Hospitals announced 12 CEO exits in January, 14 in February and three in March. Across all industries, 395 CEOs stepped down from their positions in the first quarter of this year, up 29 percent from a year earlier.
"A high rate of Americans are quitting their jobs each month, and CEOs are no exception," said Andrew Challenger, senior vice president of Challenger, Gray and Christmas. "Meanwhile, inflation concerns have some boards looking to new leadership to weather the coming storm."
Jim Citrin of executive search firm Spencer Stuart said he expects many more CEOs to leave their positions in 2022. This year "is really going to be a record year" for CEO departures, he told Fortune.
Few CEOs left their roles during 2020 and 2021, with some leaders delaying retirement plans due to the pandemic. This year, a wave of postponed departures is expected, according to Fortune.