August CEO Turnover Jumps to 186; Women Gains Continue
Publication date: Sep 24The number of CEO changes at U.S. companies rose 55% to 186 in August from 120 in July. It is up 27% from the 146 CEO exits announced in the same month one year prior, according to a report released Thursday by global outplacement and executive coaching firm Challenger, Gray & Christmas.
Through the first eight months of 2026, 1,226 CEO exits have been announced, down 18% from the 1,504 recorded in the same period last year. It is the lowest year-to-date total since 2022, when 895 CEO exits were recorded through August.
“CEO exits increased in August as companies assess leadership ahead of the final quarter of the year,” said Andy Challenger, labor expert and chief revenue officer for Challenger, Gray & Christmas.
“A rise in interest rates may help ease inflation in the final quarter, but the ongoing war in Iran is hiking energy prices, impacting goods across the board. It’s possible boards are gearing up for this uncertainty,” he added.
Publicly-traded company exits held below last year’s pace. In August, 38 publicly-held company CEOs departed. For the year, 243 public company CEOs left their posts, down 23% from the 317 CEO exits from public companies recorded in the same period last year.
WOMEN CEOs
Women continue to make gains in the C-Suite. Through August, the rate of new CEOs who are women stands at 27.6% year-to-date, up from 25.1% in the same period of 2025 and on pace to surpass last year’s full-year rate of 25.4%. It is nearing its peak of 28.7% recorded in all of 2023.
Year-to-date, the rate of exiting CEOs who are women stands at 23.8%, up from 22.7% in the same period last year.
“This is a much better signal than what we were seeing a year ago. Good companies know the pipeline to the CEO role includes women talent,” said Challenger.
WHAT INDUSTRIES SAW EXITS IN AUGUST?
Government/Non-Profit led all industries with 62 CEO exits in August, up from 40 in July and more than double the 30 in August 2025. Year-to-date, the sector has recorded 344 exits, the most of any industry and up 9% from the 316 recorded in the same period last year.
Technology followed with 19 CEO exits in August, up from 13 in both July and August 2025. The sector’s year-to-date total of 126 trails last year’s 162, a 22% decline.
Hospitals posted 15 CEO exits in August, up from 7 in both July and August 2025. The sector has recorded 103 exits year-to-date, up 21% from 85 in the same period of 2025, one of the few industries running ahead of last year’s pace.
Entertainment/Leisure reported 12 exits in August, up from 10 in July and level with August 2025. The sector has recorded 77 exits year-to-date, down from 123 a year ago.
Health Care/Products announced 11 CEO exits in August, and Financial firms announced 9. Health Care/Products has recorded 65 exits year-to-date, down 55% from 146 a year earlier, the steepest decline among the larger sectors.
Why did CEOs Leave in August
Retirements led all reasons in August with 50, followed by 44 CEOs who Stepped Down from roles, usually into a Board or other consulting position. Together the two categories accounted for just over half of the month’s departures. Year-to-date, 340 CEOs have stepped down and 327 have retired.
CEOs who saw their interim periods end drove 22 exits, the most of any month this year, continuing to resolve the wave of interim appointments made during 2025. Resignations accounted for 19 August exits, and New Opportunities drove 18. “No Reason Given” accounted for 10 departures.
Other reasons for CEO departures in August include: New Position Within Company: 7; Personal Reasons: 5; Allegations of Professional Misconduct: 4; Restructuring: 3; Death: 2; Bankruptcy: 1; Terminated: 1.
Twelve of the CEOs who departed in August were founders of the companies they led, bringing the year-to-date total of founder exits to 126. Founder departures often signal maturation events, capital raises, or generational transitions in family- and founder-owned businesses.
