The number of CEO changes at U.S. companies in November fell by 26% from 2024, continuing a trend of economic caution during the Trump administration.
The executive outplacement firm Challenger, Gray & Christmas estimated Tuesday that 123 chief executives departed companies that month, down from 167 in November 2024 but up 12% from 110 in October.
The firm cited policy changes under the Trump administration for driving a total of 1,883 exits between January 2025 and November that year, down from 1,991 during the same period in 2024.
“CEO exits are off their record pace and have slowed, indicating that boards want to project stability in the C-suite,” said Andy Challenger, workplace and labor expert for Challenger, Gray & Christmas.
November marked the sixth straight month that the company tracked fewer CEO exits than in the same month of 2024.
The government and nonprofit sector led all industries with 394 CEOs departing during the first 11 months of 2025, including 29 in November. That was down from 438 departures in the same period of 2024. Technology and health care saw the next-greatest number of departures.
Planned resignations were the most common reason cited for CEOs leaving, with 41 such exits in November and 644 during the first 11 months of the year. The next most common was “no reason given.”
• Sean Salai can be reached at ssalai@washingtontimes.com.
Please read our comment policy before commenting.