Managerial turnover on the rise, particularly among leadership positions
In 2024, the turnover rate among top leaders reached record highs, according to a global study. This surge was primarily driven by CEO transitions, company underperformance, shifts in internal succession practices, and various other factors.
The study indicates that many CEOs are not repeating their roles in 2024. This trend was particularly evident in the high turnover among Chief Human Resources Officers (CHROs) and Chief People Officers (CPOs). Within 12 months of a new CEO appointment, 52% of CHROs/CPOs also left, making turnover rates more than three times higher than usual during such periods.
Leadership changes were concentrated in companies facing negative or lagging stock performance, indicating organizational responses to underperformance or attempted strategic resets. The 2024 CHRO succession rate from internal candidates dropped notably (from 73% in 2023 to 53%), suggesting companies were increasingly opting externally amid leadership upheavals, further fueling turnover.
Broader CEO turnover trends also contributed, with 2024 seeing the highest turnover in decades and a rise in interim CEO appointments, creating more instability at the top. While CEO turnover globally slowed in early 2025 due to cautious organizational approaches, 2024's surge reflected strategic shifts and business transformation pressures worldwide.
The key causes of record turnover in 2024 among top leaders were:
- CEO transitions triggering simultaneous turnover of CHROs and other C-suite leaders.
- Leadership changes concentrated in underperforming companies aiming to improve results.
- Decrease in internal promotions for CHRO roles, favoring external hires amid organizational change.
- Increased reliance on interim CEOs and a "gig economy" style leadership, causing more rapid CEO exits.
- Regional strategic shifts and market transformations, especially in Asia-Pacific, driving localized higher turnover.
These factors combined created a volatile leadership environment in 2024, reflected in unprecedented turnover rates among top executives.
It's important to note that Cátia Mateus, a journalist, was not a CEO or a top leader according to the provided information. Therefore, her presence or absence in 2024 was not mentioned in the study, nor does it indicate whether she is one of the leaders whose role is not being repeated in 2024. The global study did not focus on journalists' turnover rates.
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